Monopoly power is the ability of firms to create product differentiation, and if that product differentiation is accompanied by a high cost of entry into the market, then firms have greater leverage to raise prices. Review the following resource:For this week’s discussion, the focus will be on examining Porter’s Five Forces as a tool for looking at the pressures on profits.Specifically, how does Porter’s analysis examine the stress on profits from all directions and all dimensions of a firm’s environment?

Monopoly power is the ability of firms to create product differentiation, and if that product differentiation is accompanied by a high cost of entry into the market, then firms have greater leverage to raise prices. Review the following resource:For this week’s discussion, the focus will be on examining Porter’s Five Forces as a tool for looking at the pressures on profits.Specifically, how does Porter’s analysis examine the stress on profits from all directions and all dimensions of a firm’s environment? You will be applying this tool by specifically looking at the market structure in which a firm competes. You will need to be able to distinguish an oligopoly from a monopolistic competitive market structure.In your discussion post, address the following: