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15 February, 07:31

Arises when there are many firms each selling an identical product, many buyers, and no restrictions on the entry of new firms into the industry. ▼ oligopoly monopoly monopolistic competition perfect competition is a market structure in which a large number of firms compete by making similar but slightly different products. ▼ oligopoly monopoly monopolistic competition perfect competition is a market structure in which a small number of firms compete. ▼ oligopoly monopoly monopolistic competition perfect competition arises when there is one firm which produces a good or service that has no close substitutes, and the firm is protected by a barrier preventing the entry of new firms.

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  1. 15 February, 10:57
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    1. perfect competition

    2. monopolistic competition

    3. oligopoly

    4. monopoly
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