There are four market structures or market models. The four market structures are perfect competition, monopolistic competition, oligopoly, and monopoly. Each market structure has its characteristics. To enhance our understanding of the four market models, answer the questions below.

Think about a firm that you may like buying products from (try to offer a unique example different from what your classmates have already identified).What industry does this firm belong to? For example, Apple would be in consumer electronics.What market structure would the firm you identified fall under?What are the names of other firms in this industry?Is it monopolistic competition, oligopoly, monopoly, or perfect competition?Justify your classification of the firm with your logic and explain what impact this will have on their pricing power (or lack thereof) on their goods.