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I agree with your detailed postexplainingthe four major market structures. You have effectively outlined the key characteristics and assumptions, making the distinctions clear. Your choice of examples, like the description of perfect competition with the fast-food industry or monopolistic competition with the hotel industry,also provides additional understanding of the concepts. Your discussion on oligopoly was the most insightful to me in that it explained how several firms' actions depend on each other and how they can engage in collusion or price cutting to make one or several of the firms in the oligopoly earn an economic profit. Your analysis of monopoly and the use of patents reveals the ways in which control of markets can impact long-run economics and growth(Kolmar, 2017).

I alsoagree with yourdetailed explanation of how cost and revenue differ in each market in the short-term and long-term markets,as well as your explanation ofthe practical usage of those theories. Among all the topics discussed in class, the one that caught my attention most was the oligopoly,where you explained how different firms' decisions are interconnected and how the concept of economic profit can be influenced in one way or another with the help of different measures that may be taken (Erokhin et al., 2023). Overall, your post provides a good description that assists in expounding such complex concepts as these and may be useful in real life.