A 2. Contrast the market structures of monopoly and comparative markets. What are the sources of monopoly power? How do companies in both market structures maximize profits? Use appropriate diagram(s) to illustrate and explain your answer.

A 3.

A local government wants to promote new tree plantations in coastal areas to control erosion. What type of market failure is the government aiming to correct? What alternatives do the government have? Use appropriate diagrams to illustrate and explain your answer.