Principles of market

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timer Asked: Nov 28th, 2018
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Question description

Please complete in word and APA format. See attached file for assignment.



11/27/2018 Module 03 Principles of Economics Credit by Assessment Module 03 Principles of Economics Credit by Assessment Instructions: Your task is to complete all assigned questions to the best of your ability. Best of luck! 1. What are the four different types of market structures? 2. In two or more sentences provide at least 3 or more characteristics that separate a perfectly competitive market structure from a monopolistic market structure? 3. Which type of market structure has differentiated goods and services? 4. Identify at least one market structure that is predominant in the United States? 5. At what point do all four market structures maximize pro ts? 6. In one to two sentences explain, how a monopolistic market structure determines its optimal price and quantity? 7. Which type of market structure faces a perfectly elastic demand curve? https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 1/6 11/27/2018 Module 03 Principles of Economics Credit by Assessment 8. In two or more sentences, explain the difference between consumer surplus and producer surplus? 9. Given the graph below explain which triangle color represents consumer surplus and which triangle color represents producer surplus. Values to construct the graph above are given in the table below: Price Quantity Supplied Quantity Demanded 30 30 0 https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 2/6 11/27/2018 Module 03 Principles of Economics Credit by Assessment 28 25 5 26 20 10 24 15 15 22 10 20 20 5 25 18 0 30 10. Given the graph below, in one to two sentences, state whether consumer surplus will increase or decrease and state whether producer surplus will increase or decrease, if the price was increased from $24.00 to $28.00. https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 3/6 11/27/2018 Module 03 Principles of Economics Credit by Assessment Grading Rubric: Your project will be graded using the rubric below: F F C B A 0 1 2 3 4 No Pass Competence Pro ciency Mastery Did Not Submit https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 4/6 11/27/2018 Module 03 Principles of Economics Credit by Assessment Failure to Able to state Able to Able to state adequately what market state what and state supply and market articulate market demand are supply and what market supply and as well as demand supply and demand as able to state are as well demand are well as market as able to as well as market equilibrium state able to state equilibrium and ability market market or to state and equilibrium equilibrium shortages explain and ability and ability and market to state to state and surpluses shortages and explain and market explain market surpluses market shortages shortages and market and market surpluses. surpluses Also, able to Also able give to give examples examples and of market articulate supply and market demand supply and are as well demand are as able to as well as state able to state https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 5/6 11/27/2018 Module 03 Principles of Economics Credit by Assessment market market equilibrium equilibrium and ability and ability to state to state and and explain explain market market shortages shortages and market and market surpluses surpluses https://rasmussen.mycourselabs.com/labs/mod/assign/view.php?id=96953 6/6

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CristinaP
School: Boston College

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Anonymous
Awesome! Exactly what I wanted.

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