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Assignment: Maximizing Profits in Market Structures Paper Consider competitive markets monopolies and oligopolies. Whatrole does each of these play in an economy? Write a 1050- to 1400-word paper on Market Structures andMaximizing Profits. Address the following:o What are the characteristics of each market structure?o How is price determined in each market structure in terms ofmaximizing profits?o How is output determined in each market structure in terms ofmaximizing profits?o What are the barriers to entry if any?o What role does each market structure play in the economy? Format your paper according to APA guidelines. Post your assignment as an attachment.