Describe the most significant characteristic in perfect competition, monopolistic competition, oligopoly and monopolies and relate the characteristic to how such firms can make profits in the short run. In your analysis, make sure to relate an illustration for each of the market structures listed and how it relates to the particular features.
Guided Response: Review the discussion board posts of your classmates. Analyze the major difference between market structures. Compare your response to those of your classmates. Respond to at least two of your classmates. Describe the way profits differ based on the market structure.