ECO 204 Ashford University Week 4 Market Structures Discussion
Description
- 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), explaining 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.
- Investigate whether government regulations encourage or discourage your business relative to its industry.
- Analyze how the role of the government may affect your market structure’s ability to price its products.
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