Q.
1
Market Structure No. of firms and degree of product differentiation Control over price

 
(1) Perfect competition Large number of firms with homogeneous products None

 
(2) Monopolistic Competition

 

 Many firms with real or perceived product differentiation Some

 
(3) Oligopoly Little or no product differentiation and many firms Some

 
(4) Monopoly Single firm with close substitute Some
  • A

    1

  • B

    2

  • C

    3

  • D

    4