Abstract: Market forms are characterized by the existence of sellers and buyers and have distinct features or assumptions that distinguishes one from the other. Price, output and profit are determined based on the market form. This paper reviewed duopoly, oligopoly and bilateral monopoly market forms. The forces of demand and supply do not determine price and output in these markets. Price and output are determined by the assumptions underlying each market form. In Nigeria economy bilateral monopoly is not common. The most common market form in Nigeria is the oligopoly market.
Keywords: Market forms, bilateral monopoly, oligopoly market.
Title: Market Forms; bilateral monopoly, duopoply and oligopoly
Author: AMKPA Rose Nimmo
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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