Daryl's Inc.has formed a cartel with the two other firms in its industry.In which of the following market structures does Daryl's operate?

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Daryl's Inc. operates in an oligopoly market structure as it has formed a cartel with the two other firms in the industry to collectively set prices and limit competition. In monopolistic competition, there are many firms competing with differentiated products, while in perfect competition, there are many small firms with no market power. A monopoly is a single firm that controls the entire market, and a legally protected monopoly is a monopoly that is granted legal protection by the government.