I need help answering these Economics question. It is for a power point Presentation.
These questions are about DoTerra Oils and the Essential oil industry.
**Please answer all questions asked.
- What is the market structure for in which this organization competes?
-Indicate why this market structure was decided and how it differentiates from the other alternatives.
- Level of competition in an Oligopoly?
- Level of competition in a Perfect Competition Market.
- Level of competition in a monopoly structure?
- Level of competition in a monopolistic competition?
- What are 3 competitive strategies that may be used by DoTerra to maximize profits in the long run?
- Evaluate the effectiveness of the above chosen strategies in the market structure that was identified in the beginning of these questions.
( Consider expected changes in supply and demand, Price elasticity of demand, Market Structure, and Government Regulations.)
- Make recommendations related to the strategies the organization might consider to maximize its profits and consider the following:
( What are the ethical implications of this strategy? Does this strategy align with the organizations current values? and does this strategy align with your own values?)
***Please cite a minimum of 3 peer reviewed sources.
I do not care about how many words are in the answer. I am just needing the answers, in general, and the 3 peer reviewed sources.
Thank you for your help :)
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