1. Writing in complete sentences, define, compare and contrast Perfect/Pure Competition and Monopolistic Competition.
2. Perfect/ Pure Competition: Identify and briefly comment on an (1) agricultural producer that has established a meaningful difference in the minds of consumers...and thus a reason for commanding higher prices. (for example... Sunkist Oranges, or REALCalifornia Cheese).
3. Identify an (1) industry and three (3) competitors within that industry that compete in a Monopolistic Competitionenvironment. (e.g. Fast Food Industry: McDonalds, Burger King, Wendy's)
4. Define Oligopoly and discuss the conditions in which Oligopolies typically occur.
5. Define Monopoly and discuss why they tend to harm rather than help economies.