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Question $1$

Question $2$

Question $3$

Question $4$

Question $5$

Question $6$

Question $7$

Question $8$

Question $9$

Question $10$

Question $11$

Question content area

Part $1$

Which market structure best describes$($a$)$ airplane$$ manufacturing, $($b$)$ electricians in a small$$ town, $($c$)$ farms that grow$$ tomatoes, and$($d$)$ cable television in a$$ city? $$ Why?

Part $2$

Airline manufacturing is

Part $3$

A$.$

monopolistically competitive because airplanes are a homogeneous product.

B$.$

a monopoly because airplanes have no close substitutes.

C$.$

an oligopoly

because there are many airline manufacturers

$.$

D$.$

an oligopoly because there are entry barriers to airline manufacturing

$.$

E$.$

perfectly competitive because airline manufacturers are price takers.