companies can charge whatever price they like
only one provider of good or service
difficult to raise prices
prices are determined competitively
consumers have more control over the market
differentiating products is important
many well-informed buyers
hard to enter the market
goods are similar and are close substitutes
large of number of independent businesses
barriers make entry into business very difficult
large number of businesses
small number of businesses that gain a majority of sales revenue
each business has a small share of the market
businesses can influence prices
