# of Firms Product Diff. Entry/Exit
Perfect Competition Many None Free
Monopoly One None Highly Restricted
Monopolistic Competition Many Significant Free
Oligopoly Few Some Restricted
You may recall the table to the left showing the primary characteristics that define the four main industrial structures that we will study. In this section we will concentrate on Monopoly. As you no doubt already know, a monopoly is an industry comprised of only one firm.

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