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1 Differentiating Between Market Structures LaKendra Brown ECO 365 April 12, 2016 John Ilokwu Differentiating Between Market Structures In the world market structure of the economics today, are describes states of the market within a lot of respect to it’s competition. Some examples, are that these markets will all produce
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2 a different types of goods and services, like the public/private goods as well as the common and collective goods. With many advantages of the supply and demand forces on the market and the way all of them will operates. Kroger has been making ripples throughout the microeconomics of America. Kroger “market structure is atypical of most of our nation’s largest corporation in that they are an oligopoly” (“Brown, 2010”). This is an very important advantage to their market is to regulating their utility. For example, if there “consumers are” very willing to pay more for the “better products even though this trend” will “differs in other markets structures”. By helping to “encourage competition” that “charge more” and therefore it would make a “bigger overall profits”. (“Brown, 2010”). “Major limitations” of supply and “demand forces” is a very “socially undesirable outcome as in the case of a market structure that is” a a characterized by their monopoly. “This happen when one single firm will control all production resources and therefore has the exploitative capabilities in the terms of pricing and promoting”. Example can be that an “electric company that has a virtual monopoly over production resources of a specific region and charge whatever the prices they will want to put in place at that time”. By this analysis of this market structure this will be described and competitive strategies that will be recommended for the company. “When implementing these strategies will help the company remain successful in this market structure”. (“Baker, SL. 2003”).
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