Respuesta :

If the market were perfectly competitive instead of oligopolistic, the price would be equal to 10.

What are the 4 types of markets?

Four different market structures are recognized by economists: oligopoly, perfect competition, pure monopolies, and monopolistic competition.

How the prices are determined in different markets?

Demand and supply are interdependent, and this relationship determines market pricing. Demand and supply forces are balanced at an equilibrium price. Prices have a propensity to return to this equilibrium unless certain demand or supply characteristics alter.

What is the definition of supply and demand?

  • Demand is the number of customers that are able and willing to purchase goods period price points throughout a specific period.
  • A basic economic notion called supply refers to the total amount of a particular commodity or service that is made available to consumers.

Learn more about supply and demand: https://brainly.com/question/13353440

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