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what factors reconsider in determining the market structure of a particular industry?

what factors reconsider in determining the market structure of a particular industry?

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Answer #1

To determine the market structure the following factors are to be considered:

Number of sellers Barriers to entry Type of product Demand curve
Perfectly competitive Many None Homogeneous Perfectly elastic
Monopoly one High Unique inelastic
Monopolistic Many none Differentiated elastic
Oligopoly Few(2-10) High Similar not determined
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