Please respond to the following ECO 550 Discussion Week 4 Managerial Economics

ECO 550 Discussion Week 4 Managerial Economics Market Structure and Porter’s Five Forces

The Constant Fight for Profitability: Market Structure and Porter’s Five Forces

What is market structure and what is Porter’s Five Forces? Here is some help. https://cdnapisec.kaltura.com/index.php/extwidget/preview/partner_id/956951/uiconf_id/38285871/entry_id/0_omjj8t4r/embed/dynamic

Select a monopolistic competitive firm and an oligopoly firm. Then apply Porter’s five forces and compare:

1) What are the challenges to profits faced by each firm?

2) Which firm is likely to have a much higher rate of return?

3) What challenges to profits arise due to supply chain and intermediary consumers such as processors and distributors?