Project description
1.Outline a plan that will assess the effectiveness of the market structure for the companys operations. Note: In Assignment 1, the assumption was that the market structure or selling environment was perfectly competitive and that the equilibrium price was to be determined by setting QD equal to QS. You are now aware of recent changes in the selling environment that suggest an imperfectly competitive market where your firm now has substantial market power in setting its own optimal price.
2.Given that business operations have changed from the market structure specified in the original scenario in Assignment 1, determine two (2) likely factors that might have caused the change. Predict the primary manner in which this change would likely impact business operations in the new market environment.
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