23 Jul HOW IS MARGINAL ANALYSIS USED IN THE PRICE AND OUTPUT DECISIONS OF FIRMS IN THE VARIOUS MARKET STRUCTURES?
The market structures influence how p Show more Assignment 1: Characteristics of the Various Market Structures 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 Required: Using Template A 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? Template A: Perfect Competition Monopolistic Competition Oligopoly Monopoly Perfect Competition Monopolistic Competition Number of Firms Pricing Decisions Output Decisions Profit Profit Demand Curve Profit Ease of Entry Product Differentiation Deliverables: In a Microsoft Excel document address each of the questions above using text boxes for narratives. Explain your answers and use examples. Submit your document to the W4: Assignment 1 Dropbox by Wednesday April 30 2014. Create a 5-12 slide PowerPoint presentation that summarizes your responses to the above-noted questions. DO NOT include the table created in question 1. Post this assignment to the Week 4 Discussion Area by Wednesday April 30 2014. Comment on at least two other presentations submitted by your peers identifying the strengths and weaknesses of each. All submissions must be original and all resources must be acknowledged. Show less
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