In which market structure are there large numbers of buyers and sellers, each of whom has some control over price?

Question

Quizplus · Accepted Answer

In monopolistic competition, there are a large number of buyers and sellers, and each seller has some control over price due to differentiation of their product. However, there is still competition in the market, which prevents any one seller from having monopoly power. Pure competition has many buyers and sellers, but no one has control over price. Oligopoly has a small number of large firms with significant control over price, and monopoly has only one seller with complete control over price.

In Which Market Structure Are There Large Numbers of Buyers