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... 1 Market Structures Market structures categorize that how the markets are invented. This categorization is based on: the number of organizations in the industry
degree of influencing the price and profit level
degree of entry barrier
the nature of produced product
effect on competence, and
The level of each firm’s monopoly power.
Types of market structures are perfect competition, monopoly, monopsony, oligopoly, duopoly, and monopolistic that are being described below:
Perfect Competition: Perfect competition is the one stream from the range of market structures. Perfect competition includes greater numbers of organizations and purchasers, manufactures, homogenous products, freedom of entrance and ex...