Micro Economics

May 20th, 2015
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Camorongan, Jelo MattValbarez, AdhelydValladolid, MiaVilladolid, DarleneVillanueva, Leah PaulaMall Retailing in the PhilippinesType of Market Structure of Mall Retailing in the PhilippinesOur group decided that the type of market structure of the mall retailing in the Philippines is a monopolistic competition. At first we find defining the market structure of the mall retailing very hard to differentiate especially it is slightly similar to the market structure of perfect competition but we just search the definition of the both of them and with the help of the lecture about market structures and added online research. Monopolistic competition is defined as;it is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms-WikipediaFrom this definition we decided that Mall Retailing in our country is a monopolistic competition. They sell different products based on branding (Bench, Penshoppe, Oxygen and etc.) and quality and they are not perfect substitutes. Number of SellersThere are many firms or sellers for monopolistic competition. It is because of the low barrier of entry present in the said market structure just like the perfect competition. In the mall retailers in the

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