Internet has changed the market structure

Assignment Help Business Economics

Reference no: EM131101317

Shortly discuss how the development of the Internet has changed the market structure in which companies operate. Assume that most firms can be categorized as being in perfect competition, monopolistic competition, oligopoly, or monopoly. Keep in mind, however, that perfect competition exists mostly as an ideal or benchmark, i.e. it is rarely if ever seen in the 'real world.' Lastly, see if you can use our managerial economic material to measure the impact of the Internet on market structure.

Reference no: EM131101317

Questions Cloud

Consider low wage labor market : Consider a low wage labor market. Workers in this market are not presently covered by the minimum wage, but the government is considering implementing such legislation. If implemented, this law would require employers in the market to pay workers a $..

Write down the firm profit function : Let's assume you've already completed the input optimization and found your company's cost function as follows: C(Y)=Y^2 + 3Y. Write down the firm's profit function. Suppose that P=$9. Find Y* and show that at this level of output, marginal revenue i..

Consider firm with the production function : Consider a firm with the production function, q = (K^(0.5) + L^(0.5))^2. In the short-run, the level of capital is fixed. Determine the equations for MPL and APL. Solve for the short-run cost function (i.e. total costs as a function of output) Using ..

Central bank achieve this goal in the short run : An economy is in long-run macroeconomic equilibrium with an unemployment rate of 5% when the government passes a law requiring the central bank to use monetary policy to lower the unemployment rate to 3% and keep it there. How could the central bank ..

Internet has changed the market structure : Shortly discuss how the development of the Internet has changed the market structure in which companies operate. Assume that most firms can be categorized as being in perfect competition, monopolistic competition, oligopoly, or monopoly. Keep in mind..

Fund the federal deposit insurance corporation : The actual reason that banks must hold required reserves is: LO33.2 a. To enhance liquidity and deter bank runs. b. To help fund the Federal Deposit Insurance Corporation, which insures bank deposits. c. To give the Fed control over the lending abili..

Minimum wage will lead to increase in unemployment rate : On April 1, 2009, in the middle of a recession, the government of the province of Ontario, Canada increased the provincial minimum wage from $8.75 to $9.50. What will the likely effect of this policy be? Both the leftward shift in the labor demand cu..

What are your firm variable costs-fixed costs : You are a perfectly competitive firm and P = $5 . Your cost function is: C(Y )= Y2 + Y + 4. What are your firm’s variable costs? Fixed costs? Write down your firm’s profit function. Write down the firms first order condition for profit maximization a..

An increase in the supply of money in an economy : An increase in the supply of money in an economy could be caused by (choose all that apply): a. an increase in the discount rate. b. a decrease in the discount rate. c. an increase in the required reserve ratio. d. a decrease in the required reserve ..

User Account

All Pages