Market Structures – Microeconomics

Differentiating Between Market Structures in an Organization of Your Choice

 

You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes. You will assess how the market structure positively and negatively affects the firm and evaluate the efficacy of the structure’s competitive strategies.

 

Complete the University of Phoenix Material: Differentiating Between Market Structures Table located on the student website. Compare the various characteristics of the market structures by completing the table.

 

Write a 1,050 – 1,400-word paper

 

Select an industry. Identify an organization in that industry. Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.

 

Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Evaluate the efficacy of these strategies in the market structure you identified.

 

Make recommendations related to the strategies the organization might consider to maximize its profits.

 

Format your paper consistent with APA guidelines.

 

 

Differentiating Between Market Structures Table

 

Compare the four market structures by filling in the table.

 

	Perfect competition	Monopoly	Monopolistic competition	Oligopoly
Example organization
Goods or services produced by the organization
Barriers to entry
Number of organizations
Price elasticity of demand
Is there a presence of economic profits?