The four basic market models include which of the following?

Question

Monopolistic competition

Perfect competition

Oligopoly

All of the above

Answer 1

The correct answer is "All of the above." The four basic market models are:

1. Perfect competition
2. Monopolistic competition
3. Oligopoly
4. Monopoly

Thus, among the given options, monopolistic competition, perfect competition, and oligopoly are included in the broader category of market models.