Market Structures
Reference textbook by Amacher, R., & Pate, J. (2019). Principles of microeconomics (2nd ed.).
Select one real-world company to use for the Market Structures essay.
- Distinguish among four market structures: perfect competition, monopolistic competition, oligopoly, and monopoly in this order.
- Identify your company’s market structure (i.e., perfect competition, monopolistic competition, oligopoly, and monopoly).
- Explain your reasoning.
- Examine whether competitive pressures are present in your company’s industry with high barriers to entry.
- Evaluate how high barriers to entry into the industry may influence your company’s long-run profitability.
- Explain the price elasticity of demand in your company’s market structure and its effect on your company’s pricing decision.
The Market Structures paper
- Must be three to four double-spaced pages in length (not including title and references pages)
- Must include an introduction with thesis statement and conclusion paragraph
- Must use at least three scholarly sources
- Must include a separate references page that is formatted to APA Style 7th edition