Question

Think about a firm that you have done business with recently. What industry does this firm belong to?

For example, McDonald's is a firm in the fast-food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it a monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of the firm. Use the characteristics/features of the different market structures to determine which market structure to classify your chosen firm.