Week 4 Individual.docx
Differentiating Between Market Structures
You will apply important microeconomics concepts toward the
competitive strategies of an organization that operates in an industry
of your choice. You will evaluate the differences between market
structures and identify a group of competitive strategies consistent
with the market structure that best aligns with the market in which the
organization competes. You will assess how the market structure
positively and negatively affects the organization's ability to earn an
economic profit over time and evaluate the effectiveness of the
organization's competitive strategies.
Write a 1,400- to 1,750-word paper.
Select an industry. Identify an organization in that industry. This must be a "real" orgainzation that you can research. A "virtual" organization will not be accepted.
Identify the market structure in which this
organization competes. Clearly indicate why the market structure was
decided upon and how this market structure differentiates from the other
Describe the level of competition the organization will face if under each of the following market structures:
- Perfect competition
- Monopolistic competition
Identify three or more competitive strategies of
your choice that may be used by the organization to maximize its profits
over the long run. Evaluate the effectiveness of these strategies in
the market structure you identified. Consider the following:
- Expected changes in supply and demand
- Price elasticity of demand
- Market structure
- Government regulations
Make recommendations related to the strategies the organization might consider to maximize its profits and consider the following:
- What are the ethical implications of these strategies?
- Does this strategy align with the organization's current values?
- Does this strategy align with your own values?
Cite a minimum of 3 peer reviewed sources.
Format consistent with APA guidelines.