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MODULE 57
Introduction to Market Structure
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57Introduction to Market Structure
In this Module, you will learn to:
Explain the meaning and dimensions of market structure
Describe the four principal types of market structure-
-perfect competition, monopoly, oligopoly, and monopolistic competition
You may have noticed that this section is titled “Behind the Supply Curve,” but we have yet to mention any supply curve. The reason is that we need to identify the type of market we are looking at before we can discuss the supply curve in a market. In this module we will learn about the basic characteristics of the four major types of markets in the economy.