Please Choose One and write and discuses, post should be at least 2 paragraphs in length and include answering the prompt, in full, and providing real-life examples to help you explain how these ideas have impacted you in some way.

A monopoly is a firm that is a sole seller in a market. In monopolistic competition, there are many firms that sell products that are similar but not identical.

Chapter 12: If competitive markets are most efficient then why do monopolies exist? How do they set their prices? Provide an example of a current day monopoly.

OR

Chapter 13: How are monopolistic competitive firms profitable? Can they earn economic profits? Provide an example of a current day monopolistic competitive firm.