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Microeconomics Discussion 12

Problem Statement / Requirements:

Select any firm or product.  You may NOT use the product you were assigned for the discussion on perfect competition. Use two characteristics of a firm (number of sellers, type of product, and barriers or ease of entry) to classify if this firm or product is perfect competition, monopoly, monopolistic competition, or oligopoly. Then post a response to another post providing the third characteristic of that product, or provide justification using a characteristic on why that firm/product may be a different market structure. Hints: Choose a product that you use everyday. Think about the product and if there are a lot of sellers, many or few substitutes, and if it would be easy to start up a new firm to compete with that product.
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