This week also, your discussion topic comprises both theory and application. You will demonstrate your theoretical understanding of the characteristics of monopoly and oligopoly. You will also apply your understanding to provide examples of each of these two market structures. 1. What is the distinguishing feature of a monopoly? How does a monopolistic market retain that distinguishing feature, ie. what prevents it from becoming an oligopoly, or a perfectly competitive industry? 2. What is the distinguishing feature of an oligopoly? 3. Provide an example of a monopoly. Explain your choice. 4. Provide an example of an industry that, in your understanding, exhibits characteristics of an oligopoly. Explain your choice. 5. Read your classmates' discussion posts and respond to at least one of them (these will be visible only after you have posted your own). Do you agree with their examples of monopoly and oligopoly? Why or why not? Original post due Thursday, response post due Sunday