Explain the characteristics of each of the four market structures providing their major differences. Under which of the market structures does each of the following fit and why? a. hometown supermarket b. the steel industry c. Kansas wheat farm d.

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Explain the characteristics of each of the four market structures providing their major differences.

Under which of the market structures does each of the following fit and why?

a. hometown supermarket
b. the steel industry
c. Kansas wheat farm
d. commercial bank
e. the automobile manufacturing industry

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