What are the characteristics of different market structures?

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30-07-2024
Business

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What are the characteristics of different market structures?

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-30T16:37:52-04:00

Final answer:

Market structures involve different types of organizations and competition in markets, such as monopoly, monopolistic competition, oligopoly, and perfect competition.

Explanation:

Market structures refer to the different organizational and competitive characteristics of markets. The major types include monopoly, monopolistic competition, oligopoly, and perfect competition. Each type is defined by factors such as the number of firms, product differentiation, and entry conditions.

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