MARKET STRUCTURE AND PROFIT MAXIMIZATION

INITIAL POST

For your initial post, answer the following question.

Provide an example of a firm or a small business from the real world that is surviving the dynamic nature of monopolistic competition, and discuss some approaches they have used (or are currently using) to compete and survive in the market.

CONCEPT-FOCUSED POST

Give a brief explanation of at least one of the concepts listed below, including an example to support your post.

Various cost concepts
Accounting profits versus economic profits
Marginal cost and marginal revenue
Optimum level of output
Types of markets
Law of diminishing return to labor

1 page and a half

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