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  2. Perfect competition, monopolistic competition, oligopoly, and monopoly
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    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.
    Economic market structures can be grouped into four categories: perfect competition, monopolistic competition, oligopoly, and monopoly.
     
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