The Four Types of STUCTURE mARKETS

Based number of firm ?
Monopoli                      ===== 1 firn
Oligopoli                      ===== Few Firms
Monopolistic competition === Many firms
Perfect Competition ======= Many firms
 The different of  Monopolistic Competition and Perfect Competiton is about product. Monopolistic Competition offers the differentiated products. But the Perfect Competition offers the identical Products.
Markets with only a few sellers

• Because of the  few sellers, the key feature of oligopoly is the tension between cooperation and self-interest.
• Characteristic of an oligopoly market :

- Few sellers offers similar or identical products
- Interdependent firms
- Best off cooperating and acting lake a monopolist by producing a small quantity of output and charging aprice above marginal cost.