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Explain the following for each market structure example separately and Lastly (only answer once this question)
1. What ever firm/industry you pick justify why you believe the firm/industry is an oligopoly or monopolistic competition market structure using market characteristics from the chapter.
2. Would the different firms have market power or would they be price takers?
3. How is market structure determined?
4. How much product differentiation would each firm/industry use to market their product?
5. In which market structure would firms experience the lowest overall profits? the highest?
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