The least competitive market structure among the options provided is monopoly. In a monopoly, a single firm dominates the market, has significant control over pricing, and there are high barriers to entry for other firms, leading to reduced competition. In contrast, perfect competition, monopolistic competition, and oligopoly have varying degrees of competition.
Which of the following is the least competitive market structure?
Group of answer choices
oligopoly
perfect competition
monopolistic competition
monopoly
1 answer
1 answer