Question: Please write a very short explaniation as possible for the follwing with examples ( 1 line Max) using a very basic english language. 4 Types

Please write a very short explaniation as possible for the follwing with examples ( 1 line Max) using a very basic english language.

4 Types of Models of Competition

  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • Oligopoly

Four Conditions for Perfect Competition

  • Many buyers and sellers
  • Identical Products
  • Informed Buyers and Sellers
  • Free Market Entry and Exit

Note: Please dont write too much only the main idea (To the points!!!!).

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