You have got been employed as a guide by your native mayor to have a look at the varied market constructions. Your position is to supply Assessment and solutions to those vital questions that can Help the mayor perceive the constructions of lots of the companies in his metropolis:
Describe every market structure mentioned in the course (excellent competitors, monopolistic competitors, oligopoly, and monopoly) and talk about two of the market characteristics of every market structure.
Determine one real-life instance of a market structure in your native metropolis and relate your instance to every of the characteristics of the market.
Describe how excessive entry limitations right into a market will affect long-run profitability of the companies.
Clarify the aggressive pressures which are current in markets with excessive limitations to entry.
Clarify the value elasticity of demand in every market structure and its impact on pricing of its merchandise in every market.
Describe how the position of the authorities impacts every market structure’s potential to cost its merchandise.
Discuss the impact of worldwide commerce on every market structure
