Jaring this course, we discussed four general market structures: perfectly competitive, monopoly, oligopoly, and monopolistic competition.

For the market condition listed below, predict and explain which market structure$($s$)$ is$($are$)$ most likely to emerge over time. $[$Note$,$ there may be just one or there may be more than one market structure that could emerge for each of these market conditions$]$:

Market Condition: There are low barriers to entry and exit into the market.