Activity 1-Write inside the hexagon the different features of each market structure, perfect competition, Monopoly, Oligopoly and Monopoly competition

\fDirection/ Instruction Answer the following in a separate paper. 1. In the year 2018, town of Carmen, Agusan del Norte has no floating cottages yet, if there are, only few. Because of the influx of customers in the beach during pandemic, there are now any floating cottages not only in Carmen but in other neighboring town like Buenavista. All these floating cottages offer the same amenities. What feature of competitive market does this demonstrate? Explain your answer. 2. Identify a firm that operates in your community that you think has a significant amount of market power. Explain why you choose this firm. 3. There are probably 20 or more brands of laundry detergent in the grocery store where your family shops. Make a list of different ways in which producers try to differentiate one detergent brand from another. Why can some brands have prices that are much higher than the price of others and still sell well?1. What are the effects on the economy of competition among sellers and competition among buyers? 2. As a student, how does it affect you if rice (one of our basic needs) will fall under a Monopoly market structure