Please assist in answering the following problems.
Imagine that you have recently purchased a franchise pizza restaurant.
Problem 1. In what type of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics that make it this type of firm?
Problem 2. What type of competition does your firm face? Who are some competitors?
Problem 3. How do you think your firm can increase its market power?