Question 1: Demonstrate your knowledge of the Oligopolistic market structure by completing the following points.

a. Define the Oligopolistic competitor

b. Describe and/or analyze graphically the firm's profit-maximizing, Break-even and shut-down conditions

c. Describe the short and long run market conditions

Question 2: Demonstrate your knowledge of the Monopolistic (Monopoly) market structure by completing the following points.

a. Explain the monopolist

b. Describe and/or analyze graphically the firm's profit-maximizing, Break-even, and shut-down conditions

c. Describe the short and long run market conditions

d. Explain what a "natural monopoly" is

e. Describe limits on monopoly power

Question 3: According to your textbook, what are the Arguments for Protection?

Question 4: Define each of the arguments for protection.

Question 5: Do you believe that the arguments for protection are necessary or unnecessary? Are some necessary? Explain your answers using current events.