3. Review the characteristics of a perfectly competitive market structure on pp. 593-594. Now pick a retail good or service that matches these conditions as closely as possible. Write a short statement of about 100-150 words describing your example and how it comes close to meeting the characteristics of a purely competitive market.
4. "Microsoft is a monopolist." Evaluate this statement in a short essay of about 125 words.
To get started, you may want to review the author's definition of monopoly on p. 616 along with your instructor's variation of this definition in the website notes.
Please print out and sbumit all of your extra credit work at the end of the course. for each valid answer you submit, one point will be added to your final exam score or WSJ project.
