Answer to Question #156546 in Economics for yooo

Question

1. A recent paper on the solar panel industry (2013 Pillai, Unni and McLaughlin, Jamison, <span style="font-size: 11pt; color: rgb(17, 85, 204); font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: underline; text-decoration-skip: none; vertical-align: baseline; white-space: pre-wrap;">https://core.ac.uk/download/pdf/204279382.pdf</span>) characterized the market structure like this: “Solar firms manufacture panels that are differentiated …[and there is] variation in prices, markups and market shares across firms.”
2. What type of market structure are these two economists describing?

Answer 1

These two economists are describing monopolistically competitive market, because there are product differentiation, different prices, profits and shares.