Market Structure and the Role of Government

This is a benchmark assignment.

Respond to each of the following questions in 150-200 words, each covering the economic topics and concepts described in this topic’s assigned readings in The Economics of Health and Medical Care.

1. Explain the unique characteristics of the four primary market structures.
2. Explain why economic profits are zero in the long run in a monopolistically competitive market.
3. What are the characteristics of a public good?
4. Discuss the two ways that product differentiation affects the demand for a product.
5. Describe at least five different forms of government intervention in the economy.

While APA format is not required for the body of this assignment, solid academic writing is expected and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.

Explanation & Answer

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