Problem
Reference the Harvard Business Case "The Ready-to-Eat Breakfast Cereal Industry in 1994," to answer the following questions:
Under what type of market structure did the cereal industry exist prior to 1994? Support your answer with details from the study.
Under what type of market structure does the cereal industry exist today? Support your answer with details from your own knowledge of the current cereal industry.
Discuss the use of marginal analysis to determine the optimal quantity of advertising that each firm should use.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.