Mostly consumers benefit from competition through greater choices and lower prices. However, not all markets are equally competitive. Consider the airline industry. Would prices of commercial aircraft—and eventually the cost of travel—come down if six or ten international companies competed for the business instead of just two? Perhaps. However, would it make sense for the new companies to enter the market? Probably not unless the government subsidized the effort.
Understanding the marketplace in which your business operates will help you maximize the probability of earning profit for your business. In this module, you will learn some basic principles of estimating the market and generating profit.
Complete the following readings early in the module:
From your course textbook, Managerial economics: Economic tools for today’s decision makers, read the following chapters:
Pricing and Output Decisions: Perfect Competition and Monopoly
Pricing and Output Decisions: Monopolistic Competition and Oligopoly
From the Argosy University online library resources, read:
Lawler, E. E., III, & Toole, E. (Eds.). America at work: Choices and challenges. Gordonsville, VA: Palgrave Macmillan. Retrieved from http://site.ebrary.com.libproxy.edmc.edu/lib/argosy/docDetail.action?docID=10150440
Assignment: Current Examples of Market Structures
Instructions: In the previous assignment and the assigned readings for this module, you analyzed industries, identified their market structures, and determined how management decisions are made on the basis of the market structure.
In this assignment, you will learn to determine the industry classification of specific market structures and industries.
Identify an article on any one of the following management decisions commonly made in an organization:
Enhancing business operations
Increasing productive capacity using technology
You can consult sources such as the Wall Street Journal, Financial Times,Bloomberg Markets, the Economist, US News and World Report, and the Argosy University online library resources.
After reading the article, respond to the following:
Identify the unifying theme in the article. Does the theme pertain to economics and the reasoning for cutting costs, enhancing business operations, or increasing productive capacity using technology? How?
Evaluate the situation that you think proposes the most significant consequences for society. What are the consequences that you foresee?
If you were the regulator of the industry analyzed in the article, how would you decide the validity of the company policy in the article and why?
By Monday October 22, 2018, save your report and upload to the Submissions Area.
Turned-in on time, Grading criteria followed All assignment qualifications addressed correctly, Grading Criteria followed, Include Question followed by the answer Reference Page Included Cover page Included, Paragraphs Indented, Running-head included, main heading should be centered; all new paragraphs should be indented; paper should be right ragged, not right justified; references, should always go on a standalone page. abstracts are not usually indented; acronyms should be spelled out when using them for the first time, for example HR. references as listed are APA standard. When you submit your papers through turnitin.com, your overall similarity index score should not be exceedingly high, with ten to fifteen percent being the maximum, Please make sure your APA formatting of citations. I have provided the APA resource cite for you. https://owl.english.purdue.edu/owl/resource/560/01, Please work on using literature within the span of the last 5 years, keep in mind there should not be any one, two, or three sentence paragraphs
Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Apply APA standards to citation of sources.
Assignment: Current Examples of Market Structures Grading Criteria & Maximum Points:
Evaluated the unifying theme in the selected article as it pertains to economics and the reasoning for cutting costs, enhancing business operations, or increasing productive capacity using technology. 28pts.
Evaluate the consequences of the situation that proposes the most significant consequences for society. 20pts.
Explained the way to decide the validity of the company policy in the article and provided a rationale. 20pts.
Articulated key points in a clear, logical, and professional manner with supporting evidence, wherever required. 12pts.
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. 20pts.
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