Economics For Engineers Book PDF : Economics for engineers book by T.R. Jain.
| Sr. No. | Perfect Competition | Monopoly | Monopolistic | Oligopoly |
|---|---|---|---|---|
| 1. | Large number of firms. | In this single firms is to be consider. | large number of firms. | Few number of firms. |
| 2. | Large number of buyers. | Large number of buyer | Large number of buyer | Large number of buyer |
| 3. | In this products are homogenous in nature | In this product is unique i.e. no close substitute are available. | In this product are Differentiated. | In this product may be differentiated or homogenous. |
| 4. | In this no control on price. | in this full control on price. | Partial control on price . | There is some price regidity. |
| 5. | This may required perfect knowledge. | In this knowledge may be imperfect. | In this knowledge may be imperfect. | In this knowledge may be imperfect. |
| 6. | In this profit is normal. | In this Super normal profit. | In this Normal profit. | in this profit is super normal. |
| 7. | Entry or exit of firm is possible. | Entry or exit of firm is not possible due to large no. of restrictions. | Entry or exit of firm is possible. | Entry or exit of firm is possible but difficult. |
| 8. | The example of this market is growing wheat, growing apples, corn. | The main example of this are public utilities. | examples of this market are clothing stores, restaurants. | examples of this are computers, manufacturing of automobiles. |
| 9. | Elasticity of demand is near to infinity | Elasticity of demand is less than one. | Elasticity of demand is greater than one. | High cross elasticity of demand. |
| 10. | The size of firm is relatively small. | The size of firm is large. | The size of firm is relatively small. | The size of firm is average or may be large. |
| 11. | The demand curve is horizontal. | The demand curve is downward slopping inelastic. | The demand curve is downward slopping elastic. | The demand curve is kinked or downward slopping inelastic. |
