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Pick one of firms listed below. Determine what type of firm and market structure. Is it a monopoly, oligopoly or monopolistic competitive. You must support your answer with what you have learned in economics, and provide researched information to support your decision. How does the market structure you determined compare to perfect competition?
- Marriott or Hilton hotels
Draw a graph showing the market structure you have stated in Part One. The graph should show the firm earning and economic profit. See the profit graphs in the textbook. The graph should be clearly label. If the graph is hand drawn then it must be done with a ruler. Include a paragraph which describes the graph. Bar graphs, circle graphs and the PPF are not appropriate graphs for this part.
- The paper be must be a typed, double spaced, with 1 inch margins. The font must be Times New Roman, 12 pt.
- Sources should be cited using MLA format
- Research should be conducted from scholarly cites, NO Wikipedia. No Investopedia. The textbook may not be the only source. It can be used for definition purposes only.
- The total length of the paper should be a minimum of two pages and no more than 5.
- Graphs can be hand drawn, scanned and uploaded OR cut and pasted from Excel. Photographs of the graphs is not acceptable. If the graph is hand drawn, it must be done with straight lines (use a rul