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Market is any arrangement whereby buyers and sellers are in close contact with one another for the purpose of buying and selling commodities. Market can be conducted through phone, postal system, Internet or at a particular geographical location. It is in this lucid manner that this book will teach you market structure. It clearly explains the types of market structure. They include the perfect and imperfect markets. It analyzes the features of perfect market and describes the price and output determination under a perfect market. It appraises the features of imperfect market and describes the price and output determination under an imperfect market. It explains the features of monopoly and describes the price and output determination under a monopoly. And it explores the monopolistic competition and describes the price and output determination under a monopolistic competition.
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