[ORDER SOLUTION] Monopolistic Competition
In this Assignment, you will be assessed on the following outcome:MT445-3: Analyze the production decision in profit maximization for the four primary market structures.In this Assignment, you will compute total cost, total revenue, and total profit/loss. Based on the computed results, you will determine the optimal quantity of output, which minimizes loss under a monopolistically competitive market. In addition, you will also evaluate the marketing strategies of oligopoly market firms.Instructions: This Assignment requires a combination of short paragraph answers and computations. Answer all of the following questions in this document. You are required to follow proper APA format. Read the Criteria section below for more information before you begin this Assignment.1. Do the firms in an oligopoly act independently or interdependently? Explain your answer.