In 2022, the soda industry generated revenue of $328 billion as more than 180 billion cans of soda were consumed by Americans. While there are a lot of soda brands available at your local grocery store, most of the soda aisle displays products from Coca-Cola, Pepsi, and Dr. Pepper; these three companies control 94% of the soda industry. Economists suggest the startup cost of $6 million for a soda company deters entry from newer competition. a) Based on the above information, which market structure (choose from perfect competition, monopoly, oligopoly, or monopolistic competition) do you think best describes the soda industry and why? (Hint: Recall the characteristics of the market structures we learned about in the text). b) Coca-Cola decides to spend money on advertising, what will Pepsi and Dr. Pepper do in response? Why? c) What are some barriers to entry that help protect the profits of Coca-Cola, Pepsi and Dr. Pepper? d) Provide two (2) examples of non-price competition each soda company can implement to attract more customers