Monopolistic Competition
         Market Characteristics
                             # Sellers
        Monopolistic         Type of Product
                             Ease of Entry/Exit
        Competition          Information
                             Price Control
                             4 Market Structures
                                        Number of Firms?
                                                                   Many
                                                                   firms
                                                                               Type of Products?
                      One               Few               Differentiated               Identical
                      firm             firms                products                   products
                                                             Monopolistic             Perfect
                 Monopoly               Oligopoly            Competition            Competition
               • Tap water           • Soft Drinks          • Shoes                • Wheat
               • Electricity         • Automobiles          • Restaurants          • Milk