In terms of competitiveness, the spectrum of market structures reaches from pure competition to monopolistic competition to oligopoly to pure monopoly. In terms of the illustration below, discuss the order of the market structures. Include in your answer an outline of the main characteristics dominating each industry. (25) Examine two (2) main bar

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In terms of competitiveness, the spectrum of market structures reaches from pure competition to monopolistic competition to oligopoly to pure monopoly. In terms of the illustration below, discuss the order of the market structures. Include in your answer an outline of the main characteristics dominating each industry. (25) Examine two (2) main barriers to entry of a monopoly firm. (10)

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