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The market structures influence how price and output decisions are made by the firms in their respective structure. In all market structures, one of the primary goals is to maximize profits or minimize losses.
One of the major differences between these market structures is how price and output decisions are made, which in turn depends on the characteristics of each market structure. There are four market structures:
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
Tasks:
Construct a table that describes the various characteristics of each market structure.
Identify a firm for each of these market structures and explain why each firm belongs in the market structure identified.
Using Microsoft Excel, construct a graph for each of the market structures and explain how price and output decisions are made in each structure and how they differ.
How is marginal analysis used in the price and output decisions of firms in the various market structures?
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Home>Business & Finance Homework Helpance>Economics Homework Helpance
Market structures influence how firms in their separate structures make price and production decisions. One of the primary purposes of all market arrangements is to maximize profits or avoid losses.
One of the most significant variations between various market structures is how price and output decisions are made, which is determined by the characteristics of each market structure. There are four types of market structures:
The ideal competition
Monopolistic rivalry
Oligopoly
Monopoly
Tasks:
Create a table outlining the unique aspects of each market structure.
Identify a firm for each of these market structures and explain why each firm belongs in the indicated market structure.
Create a graph for each of the market structures in Microsoft Excel.
