1.Explain and provides the example of the characteristic of perfect competition, monopolistic, monopoly and oligopoly?

2.Explain why the opportunity cost is important in making business decision?

3.Describe in your own idea, why and why not the government set the price floor in the minimum wage as the economic condition is in the recession today because of the pandemic?

4.In your opinion,why and why not the government set the price ceiling in the products being sold by the firms in the recession economic today?