Monopoly and monopolistic competition market structures. Monopoly Market Structure. The monopoly is understood to be the market structure associated with single seller of a product which has huge demand either as a result of necessity or because of the huge customer base (Gillespie,2011). However this may not be correct that in case of.
Monopoly and competition, basic factors in the structure of economic markets. A monopoly implies an exclusive possession of a market by a supplier of a product for which there is no substitute. In perfect competition, a large number of small sellers supply a homogeneous product to a common buying market.