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Industry Structure (Perfect competition (Many firms, No barriers,…
Industry Structure
Perfect competition
Many firms
No barriers
Homogeneous products
Perfect information flow
Oligopoly
A few firms
Significant barriers
Potential for product differentiation
Imperfect availability of information
Duopoly
Two firms
Significant barriers
Potential for product differentiation
Imperfect availability of information
Monopoly
One firm
high barrier
Potential for product differentiation
Imperfect availability of information