costs&competition

costs&competition - Costs and Market Structure ECO...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
ECO 171: Costs and Market Structure 1 Costs and Market Structure
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ECO 171: Costs and Market Structure 2 Basic ideas • Determinants of market structure: how many firms in an industry? • Economies of scale – Cost functions • Minimum efficient scale • Role of demand • Other determinants
Background image of page 2
ECO 171: Costs and Market Structure 3 Size distribution U.S. Businesses: 2003 Estab- lish- ments All firms 5,767,127 7,254,745 Firms with no employees (as of March 12) 13.4% 10.6% Firms with 1 to 4 employees 47.4% 37.7% Firms with 5 to 9 employees 17.8% 14.3% Firms with 10 to 19 employees 10.8% 9.0% Firms with 20 to 99 employees 8.9% 9.5% Firms with 100 to 499 employees 1.5% 4.6% Firms with 500 employees or more 0.3% 14.2% Employment size of enterprise Firms
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ECO 171: Costs and Market Structure 4 Average size of firms Industry title Average size (with link to definition) Agriculture, Forestry, Fishing and Hunting 7 8 Other services (except public administration) 8 Construction 9 10 Wholesale trade 17 17 All industries 20 Retail Trade 20 24 Mining 25 Transportation and Warehousing 25 26 27 Administrative & support & waste management & remediation service 28 Educational services 40 Information 48 Manufacturing 48 Utilities 95 104
Background image of page 4
ECO 171: Costs and Market Structure 5 Average size firms (Manufacturing) 20 Apparel mfg 23 Miscellaneous mfg 23 Textile product mills 27 27 Fabricated metal product mfg 27 30
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 21

costs&competition - Costs and Market Structure ECO...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online