Nike, Reebok, Adidas, New Balance are popular brands of athletic shoes. Generally Nike and Adidas charges higher prices than the rest of the competitors. These two brands also charges a wide range of prices for the many models of sports shoes. This is because a

thletic shoe industry is classified under _________ market structure.

1)

pure monopoly

2)

monopolistic competition

3)

perfect competition

4)

oligopoly