What are the different market structures in agr... - JSS3 Agricultural Science Basic Concepts of Agricultural Economics Question
What are the different market structures in agriculture?
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Agricultural markets can exhibit various structures, including perfect competition, monopoly, oligopoly, and monopsony. Perfect competition, characterised by many buyers and sellers, is rare in agriculture. Monopoly and oligopoly feature few sellers dominating the market, while monopsony involves a single major buyer influencing farmers' bargaining power.
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