This week we will learn about market structures, i.e., the types of firms that make up markets in the economy. Market structures is a microeconomics concept that you need to understand to be able to determine the price and quantity that clears the market. Like in previous discussion questions, you need to answer both parts of the discussion question. In paragraph a), you need to pick the type of firms that make up the restaurant market and describe the characteristics of the market structure and how competition affects the buyers and sellers in the market. Describe why you decided on the particular market structure you picked. In paragraph b), each student must pick a different business to talk about (the business must be in any other market structure besides the one you picked in paragraph a). Make sure you discuss the characteristics of the market structure and how it affects both the buyers and sellers in the market.