1.What market structure is there for this line of business in your home town? Is this a monopoly, oligopoly, monopolistic competition, or perfect competition? Justify your answer using both your own research on this type of business in your home town, and by referencing some of the required background readings on different types of market structures.
2.Now that you have examined market structure of your chosen industry in your home town, do some research on IBIS World on market structure in this industry nationwide. What information could you find regarding how concentrated or how competitive this industry is? Here is a link of the IBIS world report (use this report as part of your references)
3.Based on the information you found for Question 2, what market structure do you think best describes this industry nationwide? Is this a monopoly, oligopoly, monopolistic competition, or perfect competition? Explain your answer using both information from IBIS World and the concepts from the required background readings.