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Wittaler [7]
3 years ago
13

In​ _______, there are generally only a few large suppliers or sellers of a product or service.

Business
1 answer:
Troyanec [42]3 years ago
8 0
There are four types of market structures namely; perfect competition, monopoly, monopolistic competition and oligopoly. Perfect competition is where large number of small firms  compete with each other with a homogeneous product. In a monopoly market there is only one producer of a given product who determines the price of the product. In monopolistic competition the market combines the aspect of monopoly and perfect competition. In this case, In Oligopoly there are a few suppliers or sellers of a particular product.
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