ECO 365 Market Structures Team Reflection

ESSAY SAMPLE

This week's team discussion focuses on comparing different market structures. Market structure refers to how many firms are in the same industry and how they physically interact within that market (Colander, 2010). The four market structures are Monopolistic, Oligopoly, Perfect Competition, and Pure Monopoly. Depending on which type of market structure a firm decides, will determine how they market their products to both buyers and sellers in a competitive economy. Each structure has particular characteristics that assist businesses with the interactions needed to handle competition and can change over time. The business would need to evaluate the

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