Final answer:
In a scenario where 100 firms each have a 1% market share, the market structure is identified as perfect competition, which is distinct from monopoly or oligopoly.
Step-by-step explanation:
In a market with 100 firms, each holding a 1% market share, no single firm dominates, and they're all competing to sell products.
This scenario doesn't match a monopoly, where a single firm has full control, or an oligopoly, typically characterized by a few firms dominating the market, often with high barriers to entry and strategic interactions among them. Instead, it resembles perfect competition, where many firms sell identical products and no single firm can influence market conditions.
Moreover, it's not monopolistic competition either, as this involves firms selling similar but differentiated products.