​Select an industry or firm. State its market structure, homework help

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Economics

Description

Select an industry or firm. State its market structure (pure competition, monopoly, monopolistic, or oligopoly). Next, please define the characteristics of the industry or firm that support your selection of market structure. Lastly, describe and illustrate graphically the firm's profit maximizing behavior in particular MR=MC under the above-mentioned market structures or conditions.

In this written assignment, the quality of your writing and the application of APA/MLA format will be evaluated in addition to your content. Each written assignment should contain a minimum of 400 words, but no more than 500 words. Make sure that you use correct spelling, grammar, and punctuation.

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Explanation & Answer

Attached.

Market structures - Outline
Thesis statement: A market structure refers to the characteristics as well as the organization of
the market. It mainly focuses on those characteristics that affect the pricing and competition in
the industry. There are various four main types of market but for the purpose of this perfect
market will be examined.
I.

Industry selected
A. Agricultural market industry

II.

Characteristic of the industry
A. Large number of buyers and sellers
B. No entry or exit barriers
C. Homogeneity of products
D. Perfect market information
E. Mobility of factors of production
F. Minimal government regulations

III.

Graphical illustration
A. On MR= MC under perfect competition market


Running head: MARKET STRUCTURES

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Market Structures
Name
Institution

MARKET STRUCTURES

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Market structures

A market structure refers to the characteristic...


Anonymous
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