Assignment 1: Market StructuresMost European countries have nationalized their universities and colleges. Consider that some countries have also used the law to ban private colleges. Should higher education be classified as a natural monopoly in these European countries? Explain and justify your answer and use appropriate examples to support your conclusions.Next, consider the case of several large, established pharmaceutical manufacturers such as Merck. What type of market form do you believe that such manufacturers operate under?Jjustify your answers and use appropriate examples to support your conclusions. Quotations, paraphrases, and ideas you get from books or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.By Saturday, February 7, 2015, post your initial response in the Discussion Area below. By Wednesday, February 11, 2015, read all of the other students’ submissions, and post substantive comments to at least two classmates.