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ECO 204 Final Paper




You have been hired as a consultant by your local mayor to look at the various market structures. Your role is to provide analysis and answers to these important questions that will help the mayor understand the structures of many businesses in his city;1. Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structures.;2.Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market.;3. Describe how high entry barriers into a market will influence long-term profitability of the firms.;4. Explain the competitive pressures that are present in markets with high entry barriers.;5. Explain the price elasticity of demandin each market structureand its effect on pricing of its products in each market.;6. Describe how the role of the government affects each marketstructure's ability to price its products.;7. Discuss the effect of international trade on each market structure.;Your paper need to include a title page, reference page, and in-text citations properly according to the APA formatting style. It also should be eight to ten pages excluding the title and reference page. Need to include at lease five scholarly sources from the Ashford Library. Must include an introductory paragraph with a succinct thesis statement. Must address the topic of the paper in critical thought.


Paper#80392 | Written in 18-Jul-2015

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