Market Structures [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 Number of Type of Price Price Formula Freedom of Short-run Long-run Industry Examples Structure Firms Product Sold Taker? Entry? Profit? Profit? Perfect Choose an Choose an Choose Choose an Choose an Choose an Choose an [Insert two to three example Competition item. item. an item. item. item. item. item. industries that meet the criteria of the market structure.] Monopolistic Choose an Choose an Choose Choose an Choose an Choose an Choose an [Insert two to three example Competition item. item. an item. item. item. item. item. industries that meet the criteria of the market structure.] Monopolies Choose an Choose an Choose Choose an Choose an Choose an Choose an [Insert two to three example item. item. an item. item. item. item. item. industries that meet the criteria of the market structure.] Oligopolies Choose an Choose an Choose Choose an Choose an Choose an Choose an [Insert two to three example item. item. an item. item. item. item. item. industries that meet the criteria of the market structure.] Table 4.1 [Insert your responses to the following questions: Explain what market inefficiencies derive from monopolies and monopolistic competition. Use examples from the textbook to support your claims.] [How do firms in an oligopolistic market set their prices? Use specific examples from the simulations or from the textbook to support your claims.] [Explain how firms that compete in the four different market structures determine profitability. Use specific examples from the simulations or the textbook to support your claims.]