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    What are the different types of market structure?Market structure refers to how different industries are classified and differentiated based on their degree and nature of competition for services and goods. The four popular types of market structures include perfect competition, oligopoly market, monopoly market, and monopolistic competition.
    What is market structure?Market structure refers to factors which determine the level of competition and profitability in a market. Basic market structures are monopoly, oligopoly, monopolistic competition and perfect competition.
    What is the most competitive market structure?The most competitive market structure is perfect competition. Impeifect competition covers market structures between perfect competition and monopoly, i.e. monopolistic competition and oligopoly. The least competitive market structure is pure monopoly. The greater a firm's market share the more price inelastic demand will be for its product.
    What determines the type of market structure?Product differentiation is another feature which determines the type of market structure. In some markets, firms sell homogeneous products, which are perfect substitutes. In some other markets, products are differentiated. Entry barriers are the hurdles faced by new firms when they try to enter the market.
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    WEBMarket Structure. Understanding perfect competition, monopoly, monopolistic competition, and oligopoly. Author: Kevin Henderson. Reviewed By: Elliot Meade. Last Updated: November 17, 2022.

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