• Select an industry that belongs to any one of the four market structures - perfect competition, monopoly, monopolistic competition or oligopoly.Explain why you think it belongs to your identified market structure based on the market characteristics
  • number or firms, (2 marks)
  • type of product, (2 marks)
  • entry/exit barriers, (2 marks)
  • market power (2 marks)

Explain your reasoning and provide the rationale for your answer.

Answer the above question in a minimum of400 words.