There are two types of imperfectly competitive markets:

Question

Quizplus · Accepted Answer

Monopolistic competition and oligopoly are the two types of imperfectly competitive markets. Monopolistic competition is a market structure in which many firms sell differentiated products and have some control over the price, whereas oligopoly is a market structure in which a few firms dominate the market and have significant control over the price. Monopoly and cartels are also examples of market structures with imperfect competition, but they are not the two types mentioned in the question.

There Are Two Types of Imperfectly Competitive Markets