Answer the following:
a. Discuss each of the following economic market structures (i.e., number of firms in industry, barriers to entry, uniqueness of product):
1. Perfectly competitive market
2. Monopolistic competition
3. Oligopoly
4. Monopoly
b. Match the following industries with the appropriate economic market:
Local cable television company
Restaurants
United States Post Office
Cereal
Wheat farmer
Automotive
Correct Answer:
Verified
a.
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