Explain why economic profits are zero in the long run in a monopolistically competitive market

Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in this topic’s assigned readings inThe Economics of Health and Medical Care.1. Explain the unique characteristics of the four primary market structures.2. Explain why economic profits are zero in the long run in a monopolistically competitive market.3. What are the characteristics of a public good?4. Discuss the two ways that product differentiation affects the demand for a product.5. Describe at least five different forms of government intervention in the economy.While APA format is required for the body of this assignment solid academic writing is expected and in-text citations and references should be presented using APA documentation guidelines.This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.RUBRICMarket Structure and the Role of Government1 Unsatisfactory 0.00%2 Less Than Satisfactory 65.00%3 Satisfactory 75.00%4 Good 85.00%5 Excellent 100.00%70.0 %Content70.0 %Comprehension of ContentContent is incomplete and omits most of the requirements stated in the assignment criteria. Major points are irrelevant to the assignment. No outside sources are used to support major points.Content is incomplete or omits some requirements stated in the assignment criteria. Major points are not clear and/or persuasive. No outside sources are used to support major points.Content is adequate and meets the requirements stated in the assignment’s criteria. Major points are addressed. Research is evident.Content is comprehensive and accurate and definitions are clearly stated. Major points are stated clearly and are supported. Research is adequate timely relevant and addresses all of the issues stated in the assignment criteria. Relevant academic sources are cited where appropriate.Content is comprehensive accurate and persuasive with examples. Definitions are clearly stated. Major points are stated clearly and are well-supported. Research is adequate timely relevant and addresses all of the issues stated in the assignment criteria. Relevant academic sources are cited where appropriate.20.0 %Organization and Effectiveness7.0 %Thesis Development and PurposePaper lacks any discernible overall purpose or organizing claim.Thesis and/or main claim are insufficiently developed and/or vague. Purpose is not clear.Thesis and/or main claim are apparent and appropriate to purpose.Thesis and/or main claim are clear and forecast the development of the paper. It is descriptive and reflective of the arguments and appropriate to the purpose.Thesis and/or main claim are comprehensive. The essence of the paper is contained within the thesis. Thesis statement makes the purpose of the paper clear.8.0 %Argument Logic and ConstructionStatement of purpose is not justified by the conclusion. The conclusion does not support the claim made. Argument is incoherent and uses noncredible sources.Sufficient justification of claims is lacking. Argument lacks consistent unity. There are obvious flaws in the logic. Some sources have questionable credibility.Argument is orderly but may have a few inconsistencies. The argument presents minimal justification of claims. Argument logically but not thoroughly supports the purpose. Sources used are credible. Introduction and conclusion bracket the thesis.Argument shows logical progression. Techniques of argumentation are evident. There is a smooth progression of claims from introduction to conclusion. Most sources are authoritative.Clear and convincing argument presents a persuasive claim in a distinctive and compelling manner. All sources are authoritative.5.0 %Mechanics of Writing (includes spelling punctuation grammar language use)Surface errors are pervasive enough that they impede communication of meaning. Inappropriate word choice and/or sentence construction are used.Frequent and repetitive mechanical errors distract the reader. Inconsistencies in language choice sentence structure and/or word choice are present.Some mechanical errors or typos are present but are not overly distracting to the reader. Correct sentence structure and audience-appropriate language are used.Prose is largely free of mechanical errors although a few may be present. A variety of sentence structures and effective figures of speech are used.Writer is clearly in command of standard written academic English.10.0 %Format5.0 %Paper Format (Use of appropriate style for the major and assignment)Template is not used appropriately or documentation format is rarely followed correctly.Appropriate template is used but some elements are missing or mistaken. A lack of control with formatting is apparent.Appropriate template is used. Formatting is correct although some minor errors may be present.Appropriate template is fully used. There are virtually no errors in formatting style.All format elements are correct.5.0 %Research Citations (In-text citations for paraphrasing and direct quotes and reference page listing and formatting as appropriate to assignment and style)No reference page is included. No citations are used.Reference page is present. Citations are inconsistently used.Reference page lists sources used in the paper. Sources are appropriately documented although some errors may be presentReference page is inclusive of all cited sources. Documentation is appropriate and citation style is usually correct.In-text citations and a reference page are complete and correct. The documentation of cited sources is free of error.100 %Total WeightageYou are required to submit this assignment to Turnitin.