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1. Identify the differences between all four market structures in the 'f 0' f (- short-run and long-run. This will be helpful as many of you may hold J 4P management positions andfor become entrepreneurs in the near 11\"\" future. When deciding what type of rm to own or operate, you may ' nd that one market structure may he more advantageous over another based on short-run and long-run costs. 2. Explain the signicance that the average total cost {ATC} curve has on prot and loss based on each type of market structure. Explore how the ATC curve affects all four market structures and identify whether firms will earn a prot or loss based on the placement of the ATE curve and price