Pg 3/5 of econ review

Choose the proper graph from above for the following scenarios (each will be used once): O Gasoline prices rise. What happens to the market for electric cars? o The price of ash wood rises. What happens to the market for bats made of ash? O Eating healthy becomes more popular. What happens to the market fried foods? O The U.S. lowers taxes on cigarettes suppliers. What happens to the cigarette market? Unit 3 Describe the four markets: Perfect Competition Oligopoly # of Sellers Product # of Sellers Product Monopolistic Competition Monopoly # of Sellers Product # of Sellers Product Define the four common monopolies: o Geographic O Government-Granted o Natural List the strengths of the following structures: o Sole proprietorship o General partnership O LLC O Corporation