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  2. Perfect competition, monopolistic competition, oligopoly, and monopoly
    Four basic types of market structure characterize most economies: perfect competition, monopolistic competition, oligopoly, and monopoly. Each of them has its own set of characteristics and assumptions, which in turn affect the decision-making of firms and the profits they can make.
    Market structures define an industry’s characteristics in relation to the number of businesses in the industry and how they compete. Perfect competition, monopolistic competition, oligopoly, and monopoly are the four market structures.
    Market structure is a crucial notion in economics. Market structure in economics are categorized based on the competition level and the nature of the market. The four main types are perfect competition, monopolistic competition, oligopoly, and monopoly.
     
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    WEBToday we’ll be talking about the 4 types of market structures and examples. Understanding the four market structures provides a starting point for judging industry and market news, policy changes and …

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    WEBDifferent types of market structure 1. Perfect competition (many firms) 2. Monopoly (one firm), Oligopoly (a few firms) + monopolistic competition, contestable markets and collusion.

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