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Bellringer1. Fill in the monopoly column on the notesheet
Perfect
Competition
Monopolistic
CompetitionOligopoly Monopoly
Market Structure Poster Assignment (20 PTS)• Make a poster to teach other students your market model:• Perfect Competition
Oligopoly• Must include: (2 person group maximum)
Chapter 9• IYOW: Market characteristics/definition• 4 non-text examples of industries (w/pictures)• Describe the competition (Do companies have pricing power, Does quality matter?)
• How expensive to start up? (give examples of fixed/variable costs)
• What type of labor does this industry require? (skilled/unskilled, explain)
• Why positive for consumers OR producers?• How could firms be successful in industry?
Monopolistic Competition
Bellringer: full sheet of paperDraw a 4 part diagram of the market structures
Monopoly
Oligopoly
Perfect Competition
Monopolistic Competition
Perfect
Competition
Monopolistic
CompetitionOligopoly Monopoly
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Hand out grocery store assignment