What market structure (perfect competition, monopolistic competition, oligopoly, monopoly) best describes this market? What evidence do you have to su

Pick an agricultural product to analyze.

1. Based on the readings and research on the product, write an  in APA format addressing the following questions:
   1. What market structure (perfect competition, monopolistic competition, oligopoly, monopoly) best describes this market? What evidence do you have to support your conclusion?
   2. Based on the market structure, what types of strategic decisions would managers and officers in companies in this industry make? For example, does the company consider price? Output? Likely response of competitors?
   3. What external forces act upon firms in the industry? Some examples: legal and regulatory, international, technology, politics, consumer preferences, demographics.
   4. What type of the demand curve (elastic, inelastic) is the typical firm likely to see? You can deduce elasticity by asking how buyers would respond if a given producer were to unilaterally increase or decrease price. What evidence do you have for your conclusion?
   5. How much influence can an individual producer, or a group of producers working together, exert over demand? For example, are there ways the sellers can effectively increase demand (push the demand curve to the right)?
   6. How would you characterize the typical firm’s cost structure? In other words, based on the information you collect, are most costs likely to be variable or fixed? Is there evidence for economies of scale?
      1. Note: It is possible for a market to have characteristics of two structures. For example, the production may be very competitive, but an oligopoly may control the distribution channel. In such cases, use your best judgement as to which structure best applies and provide the reasons for your decision.
2. Devote at least one full paragraph for each item listed in step 2 as appropriate.