match each economic term with its description. there are no barriers to entry in the market. there is a…

match each economic term with its description. there are no barriers to entry in the market. there is a single seller in the market. three companies secretly enter into a price agreement. every company in this market structure is aware of the actions of the other companies. monopoly oligopoly perfect competition collusion

match each economic term with its description. there are no barriers to entry in the market. there is a single seller in the market. three companies secretly enter into a price agreement. every company in this market structure is aware of the actions of the other companies. monopoly oligopoly perfect competition collusion

Answer

Brief Explanations:

  • Monopoly: A single - seller market.
  • Oligopoly: Firms are aware of each other's actions and may collude.
  • Perfect competition: No barriers to entry.
  • Collusion: Secret price - fixing agreements.

Answer:

monopoly → There is a single seller in the market. oligopoly → Every company in this market structure is aware of the actions of the other companies. perfect competition → There are no barriers to entry in the market. collusion → Three companies secretly enter into a price agreement.