Choose and research an industry where there has been a

Reference no: EM13375734

Choose and research an industry where there has been a pattern of change in a particular market model (monopoly, oligopoly, etc.).

Write a four to five (4-5) page paper in which you:

Describe the industry and explain the general pattern of change of the particular market model.

Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a "market economy."

Analyze at least three (3) possible areas for the industry that could lead to transaction costs, and explain each in detail.

Speculate about the behavior that could result from these transactions and propose at least two (2) strategies for dealing with them.

Collect costs, revenue data, or other data from the industry that you deem relevant. Explain how you would modify the data in order to make it relevant to decisions a manager must make.

Explain the major factors that affect the degree of competitiveness in your industry. Use the data to develop at least three (3) measures (e.g., productivity measures) to show how the industry is evolving.

The specific course learning outcomes associated with this assignment are:

Apply the concepts of supply and demand to determine the impact of changes in market conditions in the short run and long run and the economic impact on a company's operations.

Use short-run and long-run firm production and cost functions to evaluate the impact on industries.

Analyze how production and cost functions in the short run and long run affect the strategy of individual firms.

Use technology and information resources to research issues in managerial economics and globalization.

Reference no: EM13375734

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