1. Discuss fully what a market structure is? Cite an example per market structure. 2. Explain the following characteristics of perfect competition: 2.1 Price-taking 2.2. Production of a homogenous or perfectly standardized product 2.3 Barriers to entry and exit 3. How is price of a product/service determined under perfect competition? Briefly describe the demand curve of a perfectly competitive firm? 4. What is the profit maximizing output level of a perfectly competitive firm in the short run? 5. Discuss fully the concept of "market power" in the context of market structure. 6. Discuss fully the following characteristics of a monopoly: 6.1 Ssingle seller or producer 6.2 Unique product 6.3 Impossible entry 7. What is meant by economies of scale? Cite an example. 8. Discuss fully the following characteristics of a monopolistic competition: 8.1 Many small sellers 8.2 Differentiated products 8.3 Easy market entry and exit 9. In your opinion, in what market structure do manufacturers of COVID-19 vaccine belong to? Why? Explain fully your answer. 10. Relative to question No. 5, make a research on how said companies set and determine the price and output (e.g. units of production) of their vaccines respectively. What strategies do they employ to be able to compete in the market