Economics 4850 - Economics of Education
David B. Mustard
Tables

Table 1: Market Structures and Corresponding Characteristics:

Market
Structure 
# of firms
Size
Products
Price Control
Barriers to Entry
Examples
Perfect Competition
Many
Very Small
Same
None
Very low
Dairy Farmer
Monopolistic Competition
Many
Small
Similar try to differentiate
Little 
None
Restaurant, Music groups
Oligopoly
Small #
Large
Range
Some
Range
Cars, Cola,
Cigarettes
Monopoly
One
Very Big
Unique
Choose p and quant.
High
Post office, utility, patent

Table 2: Composition of University Revenues, 1965-1995


Public
1965
Public
1995
Private
1965
Private
1995
State and Local
62
53
3
4
Federal Government
23
14
30
19
Tuition 13
20-25
43
54
Gifts and Endowment 3
6
28
17
Other
1
4
3
6