• Distinguish among four market structures: perfect competition, monopolistic competition, oligopoly, and monopoly in this order.
• Identify your company's market structure (i.e., perfect competition, monopolistic competition, oligopoly, and monopoly).
  • Explain your reasoning.
• Examine whether competitive pressures are present in your company's industry with high barriers to entry.
• Evaluate how high barriers to entry into the industry may influence your company's long-run profitability.
• Explain the price elasticity of demand in your company's market structure and its effect on your company's pricing decision.