The correct answers are Oligopoly, oligopoly, pure competition, monopolistic, oligopoly respectively.
A market with an oligopoly has a small number of businesses that are aware of their interdependence in terms of price and production strategies.
Each company has a reasonable amount of market power due to the modest number of enterprises.
There are essentially two major strategies for solving this issue. The first is to presume that businesses interact with one another. To increase their combined monopolistic earnings, they conspire.
The second is to presumptively presume that businesses act independently or antagonistically. The foundation of oligopoly theory is the analysis of oligopoly behavior under the non-cooperative assumption.
There is a distinction drawn between models of non-cooperative oligopoly where companies pick quantity and models where they determine pricing.
The terms Cournet models and Bertrand models are frequently used to describe quantity-setting models.
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