1. In each of the following situations, what type of market structure do you think the industry represents?

a. There are three producers of aluminum in the world, a good sold in many places.

b. There are thousands of farms that produce indistinguishable soybeans, a commodity sold to thousands of buyers.

c. Many designers sell high-fashion clothes. Each designer has a distinctive style and a somewhat loyal clientele.

d. A small town in the middle of Alaska has one bicycle shop.