Microeconomics
Let us imagine you are a consultant who has just been hired by a small business owner as an industry specialist. For this discussion you will identify one specific small business that you own, know the owner well or frequent as a customer.
- As the business consultant for this specific business exactly what would you recommend based on all the information you have just learned about monopolistic competition? Specifically include:
- product or service type
- level of competition that currently exists
- strategies for expanding market share
- short and long run goals
- how to achieve these goals
- Feel free to do additional research on this topic and post the URL along with a summary of what you found.