5. (a) Does a baseball club, like the Kansas City Royals, have a monopoly since they are the only baseball club in Kansas City and MLB controls the entry of any new teams in the market and they have not consented to the entry of any new baseball team in Kansas City (does Kansas City Royals provide a unique product for which there are no close substitutes)? Please give an explanation.

(b)Firms like McDonald's and Wendy's sell hamburgers, salads, and other products that are differentiated in nature. While numerous fast-food restaurants exist in most locations, the differentiated nature of the firms' products permits them to charge prices that are more than marginal cost. Given these observations, is the fast-food industry most likely a perfectly competitive industry, a monopoly, monopolistically competitive, or an oligopoly? Please give an explanation

6.Firm A and Firm B operate in a duopoly in which you and a rival must simultaneously decide what price to advertise in the weekly newspaper.