The document discusses pricing under different market structures: 1) Monopolistic competition is characterized by many small sellers offering differentiated products. Firms have some pricing power but face elastic demand. They produce sub-optimally in both the short and long run. 2) Pure competition has many buyers and sellers of homogeneous products. Each firm is a price taker and production is at minimum average cost in the long run. 3) A pure monopoly has sole control of supply and faces downward sloping demand. It prices where marginal revenue equals marginal cost to maximize profits. 4) Oligopoly is dominated by a few interdependent firms. Pricing depends on factors like rivals' prices, advertising