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.

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