3) What are the primary differences between a competitive
market, a monopolistic market, an oligopolistic market, and
monopolistic competition? Graphically illustrate for competition,
monopoly, and monopolistic competition, (we did not do an oligopoly
graph) and explain what concepts we are trying to model
graphically. Which model would best represent the following
markets, and why?
a) Chinese Restaraunts
b) OPEC
c) Bananas
d) Power Company