Microeconomic theory presents eight types of markets, they are:
1. Competitive markets,
2. Monopoly market,
3. Oligopoly market,
4. Cartel market,
6. Monopolistic competition market,
7. Monopsony market,
8. Oligopsony market.
Each of these markets have their own characteristics, this post works on competitive market's supply curve. The main issue is to class supply curves according to short run and long run. We are going to start with
