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The market structure that is characterized by a small number of large firms that have some market power is called
a monopoly
The market structure is called oligopoly. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry.
probably oligopolistic; several large firms, a few small.
Is a market structure characterized by a few large firms that produce either standardized or differentiated product, where entry into the industry is difficult, and where there is a great deal of interdependence between the decisions made by the firms
The market structure that is characterized by a small number of large firms that have some market power is called
a monopoly
The market structure is called oligopoly. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry.
a market structure in which a large number of firms all produce the same product
probably oligopolistic; several large firms, a few small.
Is a market structure characterized by a few large firms that produce either standardized or differentiated product, where entry into the industry is difficult, and where there is a great deal of interdependence between the decisions made by the firms
Monopolies are not the most common market structure, if they were you would not have the large variety of potato chips, drinks, etc.Instead "monopolistic" markets are arguably the most common form. In this market structure there are many firms who sell similar products (but not the same).
There are several different types of markets of firms. They go from a monoply (a firm which has 25% or more share of a market according to UK government) to oligopoly (a few large firms dominating the market) to monopolistic competition (many small firms in the market selling similar goods by differentiated to others by brands etc) and then perfect competition (lots of small firms selling exactly the same goods (carrot farmers etc.). Some are dominated by large firms for different reasons, the main one being a natural monopoly which is where the barriers to entry are very high (high set up costs etc) for example National Rail. It would be very expensive to lay down new railway tracks all around the country etc. Hope that help!
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oligopoly
1.) Perfect Competition2.) Imperfect Competition3.) Oligopoly4.) MonopolyIn economics, market structure (also known as the number of firms producing identical products.)Monopolistic competition, also called competitive market, where there are a large number of firms, each having a small proportion of the market share and slightly differentiated products.Oligopoly, in which a market is dominated by a small number of firms that together control the majority of the market share.Monopoly, where there is only one provider of a product or service.Perfect competition is a theoretical market structure that features unlimited contestability (or no barriers to entry), an unlimited number of producers and consumers, and a perfectly elastic demand curve.
Perfect competitionperfect competitionModel of the market based on the assumption that a large number of firms produce identical goods consumed by a large number of buyers. is a model of the market based on the assumption that a large number of firms produce identical goods consumed by a large number of buyers.