ECO 204 Final Paper-Market Structures

In an eight- to 10-page paper, describe each market structure discussed in the course (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      as outlined in the Ashford Writing Center.
• 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 from the      Ashford University Library in addition to the course text.
  • The Scholarly, Peer Reviewed, and Other Credible       Sources table offers additional guidance on appropriate source types. If       you have questions about whether a specific source is appropriate for       this assignment, please contact your instructor. Your instructor has the       final say about the appropriateness of a specific source for a particular       assignment.
• Must document all sources in APA style as outlined in      the Ashford Writing Center.
• Must include a separate references page that is      formatted according to APA style as outlined in the Ashford Writing      Center.