{"id":254266,"date":"2023-09-22T12:51:09","date_gmt":"2023-09-22T12:51:09","guid":{"rendered":"https:\/\/imarticus.org\/?p=254266"},"modified":"2024-03-19T09:40:34","modified_gmt":"2024-03-19T09:40:34","slug":"a-guide-to-markets-monopoly-duopoly-oligopoly-perfect-competition","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/a-guide-to-markets-monopoly-duopoly-oligopoly-perfect-competition\/","title":{"rendered":"A Guide to Markets: Monopoly, Duopoly, Oligopoly & Perfect Competition"},"content":{"rendered":"

Market structure refers to the level of competition present in the market for goods and services, influenced by several key factors, including:<\/p>\n

Number and nature of sellers:<\/strong> Varying from perfect competition with numerous sellers to pure monopoly with a single seller and duopoly or oligopoly with a few dominant sellers.<\/p>\n

Nature of product:<\/strong> Differentiated products lead to monopolistic competition, undifferentiated products to perfect match, and unique products to pure monopoly.
\nEntry and exit conditions:<\/strong> Market entry and exit depend on profitability, with perfect competition allowing freedom, monopoly and oligopoly having barriers, and monopolistic competition having minimal restrictions.
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