Essay – Answer both of the following:a) With the aid of Diagram explain the following terms: Perfect competition, Monopoly, Oligopoly, and Monopolistic Competition. (15 Marks)ANDb)
Compare and contrast a perfectly competitive market with the monopoly market. (15 marks)
Please draw all diagrams. Do not Copy paste. Based on a Microeconomics Topic with a word limit of 2000 (+ or 10% ) words. Do not use any journal articles. APS style reference. Use 5 textbook for reference.