four distinct industry structures

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There are four distinct industry structures: a perfect competition, a monopoly, a monopolistic competition and an oligopoly. All the four bare distinct characteristic that bring both advantages and disadvantages to the consumer and the economy.
Sine in a perfect competition there are many industries operating at low profit margins, the consumer is somehow at an advantageous standpoint since the cost of the products being sold are favorable to them and therefore much more affordable. In this operating environment the economy stands to benefit more if the cost of production among other costs is taxed by the governments in place (Kirkpatrick & Nixson, 2012). The downside however is that the consumer has little control of the pricing and that they are exposed to more less the same products with the same prices. For a monopoly, the player has the control of pricing and can twist it to their favor and this is why the prices are often oppressive to the consumer. Furthermore, the consumer is not really subjected to choice in a monopolistic structure. This is because the monopolies probably control or have the access of a key resource that enables them to lock out other product developers.
In a monopolistic competition the players find themselves selling similar but non-identical products. In such an ar...