MANAGEMENT

Detailed explanation-1: -The correct sequence of the market structure from most to least competitive is perfect competition, imperfect competition, oligopoly and pure monopoly.

Detailed explanation-2: -There are four types of competition in a free market system: perfect competition, monopolistic competition, oligopoly, and monopoly. Under monopolistic competition, many sellers offer differentiated products-products that differ slightly but serve similar purposes.

Detailed explanation-3: -Prices. A monopolistic market may quote high prices. Since there is no other competitor to fear from, the sellers will use their status of dominance and maximize their profits. Oligopoly markets on the other hand, ensure competitive hence fair prices for the consumer.

Detailed explanation-4: -Oligopoly = A market structure with few firms and barriers to entry. There is often a high level of competition between firms, as each firm makes decisions on prices, quantities, and advertising to maximize profits.

Detailed explanation-5: -Among all the forms of market, monopoly is considered to be the least competitive.