ECON110117/05 The Council of Community Colleges of Jamaica Page 8Question 3A.Define the term 'market structure'and list TWO (2)types of market structure that operate in Jamaica. (4 marks)B.State FOUR (4)assumptions on which monopolistic competition is based and give ONE (1)example of a monopolistically competitive industry in Jamaica. (6 marks)C.Compare monopoly and perfect competition. (8marks)D.Graphically illustrate the profit maximising position of both market structuresin Cabove,in the short run and long run.