Discuss about four market structures

Assignment Help Microeconomics

Reference no: EM133334855

Assignment:

"All models are wrong but some are useful."-George E. P. Box.

We have talked about four market structures with different characteristics: perfect competition, monopolistic competition, oligopoly, and monopoly. When analyzing these market structures, we make assumptions and use different models.

Please pick a market that you are interested in (such as the automobile industry). To describe the market in your example, which model of market structures is the best one? List some reasons to support your argument. Moreover, do you think that there are some limitations of this model? Which feature of this market in the real world cannot be captured by the model? Considering some changes in the market environment, do you think that the model prediction is reasonable?

Reference no: EM133334855

Questions Cloud

About rhinorrhea and sneezing : The parents of a 3-year-old male tell the technician that the child has rhinorrhea and sneezing, and his nose is itching.

Explain why use aql rather than inspect 100% of the products : The AQL inspectors based on their experience may decide on the type of sampling plan to be followed. Explain the major difference(s) between a single sampling

Identify at least 3 end-of-life issues faced by individuals : Identify at least 3 end-of-life issues faced by individuals with developmental disabilities and their families. What are some potential strategies to promote

Develop the leadership skills : Explain how to apply servant leadership principles in forming cross-cultural partnerships and teams to develop the leadership skills

Discuss about four market structures : We have talked about four market structures with different characteristics: perfect competition, monopolistic competition, oligopoly, and monopoly.

Who is the primary target audience for this campaign : Who is the primary target audience for this campaign? Is there a secondary audience? And if so, who are they? This is a brand campaign. What brand objectives

Explain the functions of protein : Explain the functions of protein? What populations have higher than average protein needs? What are 3 examples of plant based sources of protein?

Differences in prevalence rates of adverse health conditions : Disparities include differences in prevalence rates of adverse health conditions, disparities in attention to care needs including lack of practitioner

Reduce expenses without damaging services : How can a health care organization contain or reduce expenses without damaging services and quality of care?

User Account

All Pages