Eco 550 Assignment 2- Operations Decision

Analysis of market structure for Low Calorie Microwavable foodCourse name:Course no.Date:Instructor’s name:In our busy lives, time has become very valuable. Along with busy working schedules, most of the people are finding it difficult to find time to cook. Hence people are switching to ready to eat packaged food. But at the same time people have become more health conscious. Thus they are avoiding simple junk packaged foods. Instead, the attention has moved towards low calorie microwavable food. In this hectic routine life, people’s lives have become much easier by the introduction of low calorie microwavable food. These products are easily consumable and at the same time healthier. Therefore it has become very popular.As previously explained in the first assignment, it was mentioned that the market structure for low calorie microwavable food was perfectly competitive. We know that in a perfectly competitive market there are a large number of buyers and sellers, the products sold is also homogeneous in nature. The market for cereals or vegetables is the most famous example of a perfectly competitive market. Similarly, in our case, i.e. the market we