from the market structure which one is differ from the other?

Answer 1

The market structure that differs from the others is monopolistic competition.

Monopolistic competition is a market structure in which there are many firms selling differentiated products. These products are similar but not identical, and each firm has some degree of control over the price. Examples include clothing brands, fast food chains, and hair salons.

In contrast, the other three market structures- perfect competition, monopoly, and oligopoly- have distinct characteristics that set them apart:

1. Perfect competition: In this market structure, there are many buyers and sellers, and all firms sell identical products. There is no individual firm that has control over the price, as all firms are price takers. Examples of industries that closely resemble perfect competition are agriculture and some online markets.

2. Monopoly: A monopoly occurs when there is only one seller in the market, giving them complete control over the price. This lack of competition may lead to higher prices and reduced consumer choice. Examples of monopolies include state-owned enterprises in certain industries or companies that have a patent or copyright on a unique product or technology.

3. Oligopoly: Oligopoly is a market structure characterized by a small number of firms dominating the market. These firms may compete or collude with each other to control prices and market share. Oligopolies often have barriers to entry, which can make it difficult for new firms to enter the market. Examples of industries with oligopoly structures include automobile manufacturing, soft drinks, and airlines.