Discussion:
"Market Structures" Please respond to the following:
•From the scenario, suggest substantive ways in which Herb and Renee may use the information in the table in order to ascertain the profit maximizing level of output and price. Provide a rationale for your decision.
•Compare and contrast monopoly and oligopoly. Recommend one change that a company under each market structure should make in order to better maximize profits. Justify your response.