Economic Principles
Week 8 Assignment
Select a specific real-world firm or market that we have not discussed in class or the
textbook and discuss which model of market structure you think would be most
appropriate to describe that market.
(ie. Perfect competition, monopolistic competition, oligopoly, monopoly.)
Real world markets never exactly meet the assumptions of the models, so you can also talk
about what aspects of the real-world market may not fit the model what aspects are not
well described by the model selected.
You might want to consider, if relevant in your case, factors such as: the nature of the
product, factors about the production such as whether or not there are likely to be
economies of scale, the number of competitors, the degree of market power, how firms
compete, and outcomes such as prices, mark ups, profits and firm entry/exit.
The post Economic Principles appeared first on My Assignment Online.