Market Structures Differentiation
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.
Select an industry. Identify an organization in that
industry. Your selected organization must be submitted for instructor approval.
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 alternatives.
Describe the level of competition the organization will face
if under each of the following market structures:
Oligopoly
Perfect competition
Monopoly
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.
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