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    Identifying Market Structure of a Firm

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    Can you please use an example of a good or service and identify the market structure the firm operates in and explain the basis for this conclusion?

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    Hi there,
    <br>An example of a market structure is an Oligopoly:
    <br>Oligopolies have been around as long as commerce has. The term denotes a situation where there are few sellers for a product or service. The members of an oligopoly change the nature of a free market. While they can't dictate price and availability like a monopoly can, they often turn into friendly competitors, since it is in all the members' interest to maintain a stable market and profitable prices.
    <br>The new oligopoly is made up of multinational corporations that have ...

    Solution Summary

    The expert identifies market structures of a firm.