a. Using the table provided in the AVP describing the characteristics of the different market structures, classify the market structure that restaurants in general operate in. Explain your reasoning.

b. Choose a different firm from a different market structure and explain the characteristics of that market. It is best to go with a firm you frequent or are familiar with so you can speak from your own personal experiences. Note: Make sure that in parts a. and b. you described how competition affects the buyers and sellers involved in these market structures.