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1. List at least 3 key characteristics of each of the following market structures: Perfect Competition, Monopoly and Monopolistic Competition. 2. Contrast and compare among

1. List at least 3 key characteristics of each of the following market structures: Perfect Competition, Monopoly and Monopolistic Competition. 2. Contrast and compare among the above market structures, i.e. list at least 2 similarities and 2 differences among them. 3. Draw a hypothetical MR, Demand, MC and ATC curves for an individual firm in a perfectly competitive market and carefully show its profit or loss in your diagram

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