ECON 312N Week 4 Discussion Board Prices Under Different Market Structures


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Asked by 3 years ago
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ECON 312N Principles of Economics

Chamberlain College

DQ: Week 4 Prices Under Different Market Structures ECON 312n Principles of Economics Chamberlain College of Nursing

How are prices determined under perfect competition? Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? How does market structure affect the firm's ability to set the price for its products? The behavior of a single firm under perfect competition cannot influence the price of its product by its own actions. Under perfect competition a single firm then takes...

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ECON 312N Week 4 Discussion Board Prices Under Different Market Structures

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Excerpt from file: DQ: Week 4 Prices Under Different Market Structures ECON 312n Principles of Economics Chamberlain College of Nursing How are prices determined under perfect competition? Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is

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Asked: 3 years ago

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