Complete the table by selecting the appropriate response from the drop-down select menu within each cell, except for the final column in which you will enter your text-based response.]

Market StructureNumber of FirmsType of Product SoldPrice Taker?Price FormulaFreedom of Entry?Short-run Profit?Long-run Profit?Industry ExamplesPerfect CompetitionChoose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.[Insert two to three example industries that meet the criteria of the market structure.]Monopolistic CompetitionChoose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.[Insert two to three example industries that meet the criteria of the market structure.]MonopoliesChoose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.[Insert two to three example industries that meet the criteria of the market structure.]OligopoliesChoose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.Choose an item.[Insert two to three example industries that meet the criteria of the market structure.]

Table 4.1

References

Mankiw, N. G. (2021). Principles of microeconomics (#9 edition). Cengage.