Different Market Structures

Different Market Structures

1. Monopolies

   • Where one firm has complete control over the market
   • Full market power and consumers have no choice than to buy the product from the monopolist

2. Oligopoly

   • Few big firms dominate the market
   • Market power of 25%

3. features of perfect comepetitive market

   • Homogenous products
   • Perfect information
   • Price takers
   • No barriers to entry or exit