- In Economics for Managers, read:
- Chapter 7, pp. 170–178
- Chapter 8, pp. 196–210
- Chapter 9, pp. 230–237
- Review the characteristics of the different market structures presented in Table 7.1 of Chapter 7 in Economics for Managers.
- View the following media:
- Below are four companies operating in the United States today. Using your knowledge of market structures, attempt to classify each of the companies as either perfect competition, monopolistic competition, oligopoly, or monopoly. Provide rationale for each of your assessments and explain why you chose one particular market structure over another. Additional information is provided alongside each of the firms. Make sure you discuss the level of pricing power they exercise in the marketplace.
- Download the Market Structure Table.docx file.
- Using this file, evaluate each business:
- Fill in each box for all four firms. In the last row of the table, determine the market structure, or if it is a multi-divisional structure, the market structure for each of its major units for each of the four firms. Your answers should be thorough and demonstrate clear, insightful critical thinking.
- Immediately after the table, write a 400- to 600-word response that compares and contrasts the four firms. How are the firms the same and how do they differ? Provide a detailed response that shows clear, insightful thinking in your determination of the market structure of the firm.
- Use proper spelling, grammar, and APA formatting. Cite at least two sources for each of the four firms. These sources should be scholarly, peer-reviewed, or from a reputable periodical on business or the industry.
- When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop. (Turnitin enabled).
1. Perfect Competition –
2. Different Market Structures –