The Module 4 Assignment is a written essay. There are two sections with questions that need to be answered in detail. Each section has its own word count requirement. It is expected that you will provide an analysis that is supported with research from credible academic resources.
Section 1 Questions
(25 words per question) 1. What are the primary elements of market structure?
2. Describe the monopoly market structure and provide some examples.
3. How are barriers to entry and exit similar? How are they different?
4. From a social standpoint, what is the problem with monopoly?
5. Describe the monopolistically competitive market structure and provide some examples.
6. Describe the oligopolistic market structure and provide some examples.
7. The statement “You get what you pay for” reflects the common perception that high prices indicate high product quality and low prices indicate low quality. Irrespective of market structure considerations, is this statement always correct?
Section 2 Market Structure Concepts:
Indicate whether each of the following statements is true or false and explain why. (25 minimum words per question)
A. Equilibrium in monopolistically competitive markets requires that firms be operating at the minimum point on the long-run average cost curve.
B. A high ratio of distribution cost to total cost tends to increase competition by widening the geographic area over which any individual producer can compete.
C. The price elasticity of demand tends to fall as new competitors introduce substitute products. D.
An efficiently functioning cartel achieves a monopoly price/output combination.
E. An increase in product differentiation tends to increase the slope of firm demand curves.
Section 3: Monopolistically Competitive Demand:
Would the following factors increase or decrease the ability of domestic auto manufacturers to raise prices and profit margins? Why?
(25 minimum words per factor)
A. Decreased import quotas.
B. Elimination of uniform emission standards.
C. Increased automobile price advertising.
D. Increased import tariffs (taxes).
E. A rising value of the dollar, which has the effect of lowering import car prices.
Submit your assignment as a Word document and upload it for the Module 4 Assignment. (Use the sample paper template provided).
ABOVE ARE THE INSTRUCTORS ASSIGNMENT INDICATIONS, I WILL GIVE HERE COME LINKS THAT WILL HAVE TO BE USED AS THEY EXPRESS USEFUL GRAPHIC EXPLANATIONS THAT SHOULD BE INCLUDED IN THIS ESSAY:
THESE ARE THE LINKS PROVIDED BY THE TEACHER, PLEASE TRY TO USE THEM FOR SUPPORTING IDEAS AS OLIGOPOLY, MONOPOLY, ETC IN THE MARKET
PLEASE Read the Articles
Market Structure: Meaning, Characteristics, and Forms
Market Structure: Meaning, Characteristics and Forms | Economics
Market Structures
http://itech.fgcu.edu/faculty/bhobbs/market_structure_chart.htm
Market Structures
http://mrshearingeconomics.weebly.com/market-structures.html
Perfect Competition
http://www.economicsonline.co.uk/Business_economics/Perfect_competition.html
Perfect Competition
http://www.economicshelp.org/microessays/markets/perfect-competition/
Economics Basics: Monopolies, Oligopolies and Perfect Competition
http://www.investopedia.com/university/economics/economics6.asp
Monopolies
http://www.economicsonline.co.uk/Business_economics/Monopoly.html
Monopolistic Competition
http://www.investopedia.com/terms/m/monopolisticmarket.asp
