b)Choose a monopoly from the United States of America.Using real data from your case study identify its key characteristics in relation to the factors used to differentiate among the market structures. Describe your case study in sufficient details, provide relevant information, use table, diagrams where appropriate.Use features of market structuresuch as number of sellers, type of product, entry conditions, profits and losses in the short and long run, advertising, research and development. c) Identify the type of market failure in relation to your chosen monopoly. Propose how market failure in your case study should be reduced using economic theory and illustrate it on a diagram