Answer
See below.
Work Step by Step
1] Pure competition Market:
There is a very large number of firms.
There are standardized products.
They don't have any control over price.
They are price takers.
There are no obstacles to entry in a perfect competition market.
There is no non-price competition.
2] Pure monopoly:
There is one firm only.
They have a unique product: which has no close substitutes.
They have much control over price.
They are price makers.
The entry into the market is entry is blocked or restricted.
The most public relations advertising.
3]Monopolistic competition:
There are many firms with differentiated products;
They have some control over price in a narrow range;
There is relatively easy entrance into the monopolistic market.
There is a nonprice competition: advertising, trademarks, brand names.
4] Oligopoly:
There are only a few firms.
There are standardized or differentiated products.
They have control over price circumscribed by mutual interdependence on each other.
There are many obstacles to entry.
There is much nonprice competition, particularly product differentiation.
(a) Hometown supermarket: Oligopoly.
Supermarkets are few in number in any one area;
Their size makes new entry very difficult.
There is much nonprice competition
However, there is much price competition as they compete for market share, and there seems to be no collusion.
In this regard, the supermarket acts more like a monopolistic competitor.
Note that this answer may vary by area.
Some areas could be characterized by monopolistic competition while isolated small towns may have a monopoly situation.
(b) Steel industry: Oligopoly within the domestic production market. Firms are few in number.
Their products are standardized to some extent.
Their size makes new entry very difficult.
There is much nonprice competition.
There is little, if any, price competition; while there may be no collusion, there does seem to be much price leadership.
(c) Kansas wheat farm: pure competition.
There are a great number of similar farms; the product is standardized;
There is no control over price.
There is no nonprice competition.
However, entry is difficult because of the cost of acquiring land from a present proprietor.
Of course, government programs assist.
(d) Commercial bank: monopolistic competition.
There are many similar banks; the services are differentiated as much as the bank can make them appear to be.
There is control over price (mostly interest charged or offered) within a narrow range; entry is relatively easy (maybe too easy)
There is much advertising.
Once again, not every bank may fit this model smaller towns may have an oligopoly or monopoly situation.
(e) Automobile industry: oligopoly.
Companies are few in number; their products are differentiated.
Their size makes new entry very difficult; there is much nonprice competition.
There is little true price competition; while there does not appear to be any collusion, there has been much price leadership.
However, imports have made the industry more competitive in the past two decades, which has substantially reduced the market power of the U.S. automakers.
