Question: Answer the following questions. When it needs bring examples, references and in-text citations. Do follow APA style throughout your writing. Answers should be minimum 2 pages, double space, Times New Romans.
1. Explain how market entry affects the profit level of a competitive firm.
2. If you had the opportunity to operate a firm with market power either in the market for fast-food or for pharmaceuticals, which market should you choose in order to earn the highest profits and why?
3. Explain the two basic principles of successful price discrimination.