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Case Study: I need help understanding how 2.5 Maximizing profit by creating a graph and to produce a marginal cost analysis answer some questions. I chose my product to be chocolate covered pretzels at $4.00 a package. I need help with explaining the responses. Please advise and help me Which market type would my product fall under? for your product (pure/perfect competition, monopolistic competition, oligopoly, or monopoly). Please explain at the profit-maximizing quantity, is the price of your product equal to, higher than, or lower than the marginal cost? Assume Qpm is 100 units. What is the total revenue?
Question: Please explain how I would go about this and the thinking process involved also the reflection portion. How do I know which type of market this goes under? I'm selling Animal-shaped chocolate covered pretzels at $4.00 a package.
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