This week's reading assignment truly deep-dived into three different markets in the economy. While I was familiar with the monopolistic market, the one I found the most interesting was the perfectly competitive market. This type of market is similar to a farmer's market. The product that they sell is not that much different than the rest of the competitors. For that reason, the price they charge is also not that much different. An example of a monopolistic market can be the electric company for most regulated states. The states have one power company to provide electricity. Companies like this have control over price since they are the only company in that market. However, this is not true for all states in the U.S. I lived in Texas for a few years, and some parts of Texas were deregulated. This means that one company will generate and sell the power to multiple other companies responsible for selling it to consumers. The idea behind deregulation is to help the consumer get lower prices when companies compete with each other. A monopolistic competitive market is one where multiple companies are offering or selling similar but different products or services. Examples of this type of market are hair salons. While there are certainly many to choose from, you may make a decision on one based on location, hair stylist, years of experience., etc.