Which of the following kinds of market structure are NOT associated with market power?

Question

Quizplus · Accepted Answer

Perfect competition is a market structure where no individual firm has market power because there are numerous small firms and no barriers to entry or exit. Therefore, perfect competition is not associated with market power. Monopolistic competition also has numerous small firms, but each has some degree of market power due to product differentiation. Oligopoly and monopoly both have a small number of firms, with oligopoly having interdependence among firms and monopoly having a single firm as the only supplier. Both of these market structures are associated with market power.

Which of the Following Kinds of Market Structure Are NOT