Respond to the following questions:You have just been hired by a company as aneconomist and strategic planner. Your company has asked you to generate areport explaining the consequences of the market structure in which thecompany operates. Assume that the market structure is an oligopoly.Explain to management how this structure could influence decisionmaking, especially pricing, output, advertising, and the use ofresources in an oligopolistic market, as compared to other marketstructures.Outline what the kinkeddemand curve model of oligopoly seeks to explain. What are the majorpoints of this theory? How does the kinked demand theory of oligopolydiffer from other theories in terms of explaining the behavior ofcompanies in an oligopoly? Explain the role of your company if it isconsidered the dominant company in the industry in terms of priceleadership. Suggest and justify whether any other role should berecommended.Price discrimination isthe practice of charging different customers or groups of customersdifferent prices for the same product. Why does price discriminationoccur? Describe the conditions that must be present for pricediscrimination to occur. Analyze why and how price discrimination ispracticed in the following markets:Airline ticketsWholesale vs. retail marketsMovie theater ticketsDiscount couponsJustify your choices with valid assumptions and logically driven arguments. Cite any sources using APA format. Attached is the template. Not more than 700 words.