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Respond to one of the discussion questions and submit your response to the Discussion Area. Use the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your sources using APA format.
Discussion Question 1:
You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oligopoly. Explain to management how this structure could influence decision making, especially pricing, output, advertising, and the use of resources in an oligopolistic market, as compared to other market structures. Justify your answer.
Discussion Question 2:
Price discrimination is the practice of charging different customers or groups of customer’s different prices for the same product.
Why does price discrimination occur?
Describe the conditions that must be present for price discrimination to occur.
Justify your answer.
