Describe the four basic types of market structures. Althoughthere are many different examples of economies in the world, all ofthem demonstrate one or more of the four basic types of marketstructure.
1) For this assignment, in your own words,Identify the four basic market structures, in order, from the bestfor consumers to the being the best for producers.
2) Describe each in terms of their distinguishingcharacteristics (e.g., monopolies have only one producer). Makecertain you describe how the characteristic distinguishes theassociated market structure from other market structures.
********ANSWER PROBLEM 2 ONLY***********
x. Perfect xxxxxxxxxxx- xx xx themarket xxxxxxxxx in xxxxx xxxxx xxx large xxxxxx of xxxxx xxxxxxxxxxxxxxxx xxxxxxxx, there xxx no xxxxxxxxxxxx xx xxxxy and xxxx offirms, xxxxx xxx xxx price xxxxxx in xxx xxxxxx, xx is xxxxxxxxxxxyxxxxxxxxx as xxxxx xx xxxxx to xxxxxxxx efficient.
x. xxxxxxxy - It xx the xyxx xxxxxxxx xxxxxxxxx in xxxxx there xxxxxx x xxxxxx seller xx theproduct xxxx xx xxxxx substitutes, xxxxx are xxxxxxxx xx xxxxy dueto xxxxxxx, copyrights, xxxxxxxxxx, xxxxxxxxx xx naturalmonopolies, xxxx aim xx xxxxxx xxxxxxzxxxxx. They xxx not xxxxxxxxxxx xxxxxx xxxxxx Marginal xxxx and xxxxx xx xxxx weightloss.Profits xxx above xxxxxx xxxx xx short xxx long xxx xxx xxxxxxxxxx to xxxxy. Example - xx xxxxxx Services
x. Monopolistic xxxxxxxxxxx- xxxxxxxx xxxxx number xx firms xxxxxxx xxxxxxxx xxxx are xxxxxxxxxxxxxxxx of xxxx xxxxx. xxxxx is xxxxxxxxxy free xxxxy xxx xxxxxx compared xx monopoly xxx xxxxxxxxy xxx not xx free xx xx xxxxxxx of xxxxxxx competition. xxxy xxx xxxxxx maximizers xxx thereexists xxxxxx xxxxxxxy xxx deadweight xxxx.xxxxxxx are xxxxxx xxxxxx xxx.