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RE: Market Structure #5 - Monopoly
There are some markets that have very high infrastructure costs where it is close to impossible to have many firms. I would expect a monopoly or possibly some form of oligopoly for these markets. Most markets fit more comfortably into monopolistic competition with many firms competing and cooperating to achieve greater efficiency. I also prefer markets with many firms as that means there are many entrepreneurs and more incentive to succeed.
True and thanks for your kind response with your more insightful thoughts. Stay blessed. 🙂