please select one of the following three topic prompts to discuss: (1) The instructor for this course has emphasized students examine the 5 defining characteristics or each of market-type for this unit. List the five characteristics that help us identify MCMs and give five real-world examples of an MCM to explain each of those characteristics as you go. Be comprehensive. (2) MCMs are very likely the most common market-type you will encounter in your economic life. One could say that they have the "worst" outcomes of both PCMs and of monopolies. That is bit extreme but explain what I mean by covering (a) the expected outcome for a firm participating in an MCM over the long-run and then (b) the societal outcomes in terms of productive efficiency through ATC and the market efficiency in terms of Total Social Welfare that we are likely to experience from the market-type. (3) Dr. Mankiw spends a lot of ink discussing Advertising with the MCM market type. (a) why do you think he decides to do, this? (b) what does he say about the demonstrated impacted on advertising on producer costs (in the text), and (c) why does he suggest that the very presence of advertising might be a positive signal to a consumer?