Regarding a supermarket chain store, what sort of market structure is that industry in?

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Let's first look at the basic four market structure types.

The first market structure type is the perfect competition structure. If I'm honest, this exists in theory only. This market type is characterized by having a large number of small companies that compete against each other. In this scenario, a single company does not have any significant market power, and all companies sell completely identical goods and services. This structure type clearly doesn't work for the supermarket industry because the supermarket companies are too big, and there are too few of them. Additionally, not all supermarkets sell identical goods.

The second market structure type is a monopoly. This is a market structure where a single firm controls the entire market, and consumers have no alternatives. I'm assuming that regardless of the area/population that this question pertains to that there are at least two different stores in competition with each other.

The third structure type is monopolistic competition....

(The entire section contains 3 answers and 696 words.)

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