All answers should be very simple and easy to understand as possible (to the points!!!), no need to write long answers Please provide a very simple answer as possible for the following questions using basic English language (I want the answer to be to the points only, not a long answer) What do we mean by monopoly and give me simple example? What do we mean by oligopoly and give me simple example? What do we mean by natural monopolies and give me simple examples? What do we mean by government monopolies and give me simple examples? What do we mean by market power and give me simple examples? What do we mean by predatory pricing and give me simple examples? what does equity in market efficiency mean in a simple way with examples? what are the three insights concerning market outcomes? What do we mean by total revenue? What do we mean by total cost? What do we mean by explicit cost with examples? What do we mean by implicit cost with examples? In which case the economical profit is larger than accounting profit? Four conditions of monopolistic (Give me a very simple answer less than 1 line, if possible, only the main idea with examples) 1. Many firms 2. Few artificial barriers to entry 3. Slight control over price 4. Differentiated products How do firms in monopolistic competition get customers (give me a very simple answer less than 1 line, if possible, only the main idea with examples) Four conditions of nonprice competition (Give me a very simple answer less than 1 line, if possible, only the main idea with examples) 1. Characteristics of goods 2. Location of sale 3. Service Level 4. Advertising image How do oligopolies work? (Give me a very simple answer less than 1 line, if possible, only the main idea with examples) 1. Collusion 2. Price Fixing 3. Cartels 4 forms of Anti-trust law (Give me a very simple answer less than 1 line, if possible, only the main idea with examples) 1. Regulating Business Practices 2. Breaking Up Monopolies 3. Blocking Mergers 4. Preserving incentives