Speaking: How do the four types of market structures differ
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How do the four types of market structures differ - consider, thatIn the previous assignment and the assigned readings for this module, you analyzed industries, identified their market structures, and determined how management decisions are made on the basis of the market structure. In this assignment, you will learn to determine the industry classification of specific market structures and industries. Identify an article on any one of the following management decisions commonly made in an organization:. Assignment 2 Grading CriteriaMaximum PointsEvaluated the unifying theme in the selected article as it pertains to economics and the reasoning for cutting costs, enhancing business operations, or increasing productive capacity using technology. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Previous Post. Next Post. Skip to content Assignment 2: Current Examples of Market Structures In the previous assignment and the assigned readings for this module, you analyzed industries, identified their market structures, and determined how management decisions are made on the basis of the market structure. Don't use plagiarized sources.
How do the four types of market structures differ - excitedIn chapter 12, you learned one of the most fundamental types of market structure — perfect competition. Consider the following industries and discuss which industries could suit best into the category of perfect competition. Due: Day 4 by pm; word count: minimum words. The essay must be your original paper, and paper will not be graded or I will give a zero on that assignment, if your paper matches with other sources substantially. Organization Weight The content contains effective transitions between paragraphs.
In less competitive markets, large profits are possible even in the long run; in the short run, any outcome is possible. Section 2 introduces the analysis of market structures.
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The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates. Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, oligopoly, and pure monopoly, respectively.
Section 7 reviews techniques for identifying the various forms of market structure. For example, there are accepted measures of market concentration that are used by regulators of financial institutions to judge whether or not a planned merger or acquisition will harm the competitive nature of regional banking markets. Financial analysts visit web page be able to identify the type of market structure a firm is operating within. Each different structure implies a different long-run sustainability of profits.
A summary and practice problems conclude the reading. In this reading, we have surveyed how economists classify market structures. We have analyzed the distinctions between the different structures that are important for understanding demand and supply relations, optimal price and output, pf the factors affecting long-run profitability. We also provided guidelines for identifying market structure in practice. Among our conclusions are the following:. Economic market structures can be grouped into four categories: perfect competition, monopolistic competition, oligopoly, and monopoly.
The categories differ because of the following characteristics: The number of producers is many in perfect and monopolistic competition, few in oligopoly, and one in monopoly. The degree of product differentiation, the pricing power of the producer, the barriers to entry of new producers, and the level of non-price competition e. The optimal marginal revenue equals marginal cost. However, only in perfect competition does the marginal revenue equal price. In the remaining structures, price generally exceeds marginal revenue because a firm can sell more units only by reducing the per unit price.
The quantity sold is highest in perfect competition.]