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Market Structure Test

Fill in the table below to test your knowledge on Market Structure. A completed table can be found here. Good Luck!

  Barriers to Entry and Exit  Degree of Competition Number of Firms  Profit  X-Efficient?  Allocatively Efficient?  Productively Efficient? 
Perfect Competition 


SR: 
LR: 
SR: 
LR: 
SR: 
LR: 
Monopolistic Competition 


SR: 
LR: 
SR: 
LR: 
SR: 
LR: 
Oligopoly 


UNKNOWN UNKNOWN  UNKNOWN  UNKNOWN 
Monopoly 

 



Contestable Markets 




 
  
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