ECO 204: Market Structures

In an eight- to 10-page paper, describe each market structure (perfect competition, monopolistic competition, oligopoly, monopoly), provide a real-life example of each market, and respond to the following for each market structure:

Indicate how high entry barriers into a market will influence:

Long-run profitability of the firms

Cost efficiency of the firms in the industry

Likelihood that some inefficient firms will survive

Incentive of entrepreneurs to develop substitutes for the product supplied by the firms

Are competitive pressures present in markets with high barriers to entry? Explain.

Describe which market structure you would prefer for selling products. Explain why and support your answer with the characteristics of that market.

Describe which market structure you would prefer for buying products. Explain why and support your answer with the characteristics of that market.

How does each market structure respond to price changes of the products that they sell? Explain whether each market structure will be selling elastic or inelastic products, and how this will affect the market price charged.

How does the role of the government affect each market structure’s ability to price their products?

How does international trade affect each market structure?

The Market Structures Final Paper

Must be eight to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA style.

Must include a separate title page with the following:

Title of paper

 Student’s name

Course name and number

Instructor’s name

Date submitted

Must use at least five scholarly sources.

Must document all sources in APA style.

Must include a separate references page that is formatted according to APA style.

 

 

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