3) MonopolyPure monopoly is one where only one producer exists in the industry. In reality, it rarely exists – there is always some form of substitute available. Monopoly therefore exists where one company dominates the market. walk. The forms can be studied to find examples of monopoly power when the market share exceeds 25%. The summary of the characteristics of the firm exercising monopoly power would be as follows: Price – could be judged too high, could be set to destroy competition. be inefficient due to lack of competition or could be higher due to availability of high profits.4) Oligopoly An oligopoly is a market structure in which a few firms dominate. When a market is shared between a few companies, it is said to be very concentrated. Even if only a few companies dominate the market, it is possible that many smaller companies also operate in the market. Competition among a few may be a large number of companies in the industry, but the industry is dominated by a small number of very large producers. Concentration rate – the proportion of total market sales (share) held by the largest 3,4,5 etc. of companies: it is characterized by an oligopolistic market structure: the price can be relatively stable across the