forms of market sructure basic concepts
Answers
Answer:
There are four types of market structures:
1.perfectly competitive market
2.monopoly market
3.monopolistically competitive market
4.Oligopoly Market
Explanation:
1.perfectly competitive market..
it is the market structure where there are a large number of buyers and sellers producing a homogeneous product, so that no single producer can influence the price of the product.
2.monopoly market.
it is the form of market structure where there is a single producer of a particular product who can influence the price of the product by changing the quantity supplied.
3.monopolistically competitive market.
it is the form of imperfect market structure where there are a large number of sellers producing the same but somewhat differentiated product.
4.Oligopoly market.
it is the form of market structure where a few number of firms dominate the market and can influence the price of the product in their own way.
Answer:
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