Economics discussion

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  1. Describe fixed and variable costs.
  2. Summarize pure competition.
  3. Summarize monopolistic competition.
  4. Summarize an oligopoly.
  5.  Summarize a pure monopoly.
  6. Explain how pure competition maximizes profits.

Choose any one part of the Discussion Question (1,2,3,4,5 or 6) and give a real-life example/illustration.