2. Market structures For each of the following scenarios, identify the number of firms present the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario Number of Firms Type of Product Market Model A large city has lots of small shops where people can buy sweaters. Each store's sweaters reflect the style of that particular store. Additionally, some stores use higher quality yarn than others, which is reflected in their price. Few Many One There are hundreds of high school students in need of algebra tutoring services. Dozens of companies offer tutoring services; parents view the quality of the tutoring at the different companies to be largely the same. In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, If ever. The government has granted the U.S. Postal Service the exclusive right to deliver mail. Grade It Now SEWAAN Tools 2. Market structures For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario Number of Firms Type of Product Market Model A large city has lots of small shops where people can buy sweaters. Each store's sweaters reflect the style of that particular store. Additionally, some stores use higher quality yarn than others, which is reflected in their price. Identical Differentiated Unique There are hundreds of high school students in need of algebra tutoring services. Dozens of companies offer tutoring services: parents view the quality of the tutoring at the different companies to be largely the same. In a small town, there are four providers of broadband Internet access a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, if ever. The government has granted the U.S. Postal Service the Exclusive right to deliver mail Grade It Now Save & Continue Continue without saving 2. Market structures For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario Number of Firms Type of Product Market Model A large city has lots of small shops where people can buy sweaters. Each store's sweaters reflect the style of that particular store. Additionally, some stores use higher-quality yarn than others, which is reflected in their price. Monopoly Monopolistic Competition Oligopoly Perfect Competition There are hundreds of high school students in need of algebra tutoring services. Dozens of companies offer tutoring services; parents view the quality of the tutoring at the different companies to be largely the same. In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, aver. The government has granted the U.S. Postal Service the exclusive right to deliver mail. Grade It Now Save & Continue