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what is a market structure
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Ranganath B
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Rachna Chutani
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Market structure can be defined as no. Of firms producing identical goods and services in the market and whose structure is determined on the basis of competition. Basic thing which is concerned more is type of competition prevailing in the market and for that matter there are three tupes of competition
1. Perfect competition - many buyers and sellers, none being able to influence price
2. Oligopoly - several large sellers who have control over prices
3. Monopoly - single seller with considerable control over supply and prices.
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