EC0 204 FINAL market structure
EC0 204 FINAL market structure
You have been hired as a consultant by your local mayor to look at the various
market structures. Your role is to provide analysis and answers to these
important questions that will help the mayor understand the structures of many
of the businesses in his city:
1.
Describe each
market structure discussed in the course (perfect competition, monopolistic
competition, oligopoly, and monopoly) and discuss two of the market
characteristics of each market structure.
2.
Identify one
real-life example of a market structure in your local city and relate your
example to each of the characteristics of the market.
3.
Describe how
high entry barriers into a market will influence long-run profitability of the
firms.
4.
Explain the competitive
pressures that are present in markets with high barriers to entry.
5.
Explain the
price elasticity of demand in each market structure and its effect on pricing
of its products in each market.
6.
Describe how the
role of the government affects each market structure’s ability to price its
products.
7.
Discuss the
effect of international trade on each market structure.
Your paper will need to include a title page, a reference page, and in-text
citations properly formatted according to the APA style guide. Also, your
content should be eight to ten pages, which does not include your reference or
title page. You will need to include at least five scholarly sources from the
Ashford Library in your paper as part of your research to support your
analysis.
