You will compare three market structures: Perfect competition, Monopoly and Monopolistic competition. You will divide your work in sections including the introduction (what special characteristics are associated with these market structures). Next, how do the three market structures determine output for profit maximization? How do the three market structures price their output? What is their intention for this pricing model? Are these market structures mind about efficiency in resource utilization? How are resources employed in each of the market structures? After all these areas are addressed, please conclude your paper. You are expected to cite throughout the paper where you are using somebody else’s work. Also, please provide a work-cited list at the end.
You are to write a 3-5 page paper that includes the “facts” about your topic. All facts MUST be supported by research (peer reviewed/scholarly empirical