Deliverable 5 - Best Market Structure for a Pipeline to Function In

User Generated

nsebchax

Business Finance

Description

Competency

Understand various market structures and impacts upon firms, consumers, and government policies.

Course Scenario

Oil Company X is a large oil refinery which has been expanding and taking on new investment projects. Recently, they have considered building a pipeline that stretches across the United States, from Canada to New Orleans.

The Cost Department is looking to determine the impact of the pipeline on the current market structure, and they have asked you, a team member of the department, to submit a report on the expected changing market structure.

Instructions

As a cost analyst at your firm, you are asked to evaluate the type of market you are performing in. Assume the current number of oil companies exist in the market. After the pipeline is built, extensive trade restrictions will drastically increase Oil Company X's hold on the market.

Submit a 2-page report detailing the current market structure, and the anticipated market structure after the pipeline is built. You will also include tables to show the characteristics of each of the above market structures and where our firm conforms or does not conform to the characteristics of the different market structures. Be sure to explain the impact on price and quantity, and any pertinent changes to the firm's pricing strategy after the change in market structure.

Format your report to include a title page, introduction, conclusion, and references. Include all relevant graphs, equations, and calculations. Show your work on calculations to ensure you receive partial credit for incorrect answers. No credit will be given if your work is not shown. Remember to cite your sources using correct APA format, and also use correct grammar, spelling, and formatting.

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Explanation & Answer

Hello,Attached find is the completed work. I did a thorough research on the assignment and hopefully i attained the correct answer. Have a look at the work and let me know how you feel about it.Thanks and all the best.

Running Head: MARKET STRUCTURE

1

Market Structure
Name
Institutional Affiliation

MARKET STRUCTURE

2

Market Structure
Introduction
Currently, the market structure that exists in the oil industry is a monopoly type of market
structure because there is only one big firm that is serving the industry and for this reason it has
no competition at all and in turn the prices set by this company seem to be very high for the
consumers (Geras’kin, & Chkhartishvili, 2017). This is an advantage to our company because
when we establish our company at this p...


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