Filice_A_XECO_MarketStructure_4

Filice_A_XECO_MarketStructure_4 - Maximizing Profits in...

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Maximizing Profits in Market Structures Anthony Filice XECO 212 October 9, 2011 Yvonne Shivers Abstract Market structure is the number of business or firms that produce similar and competing products. The different aspects of market structure include the number of firms and the distribution reach that each has, entry conditions (How to enter a particular type of business), and the differentiation. Maximizing profits in every market structure is dependent on the relationship of two factors; those factors are marginal revenue and marginal cost. In the following I will discuss three different market
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2 Maximizing Profits in Market Structures structures, which will include competitive markets, monopolies, and oligopolies. I will also discuss prices in the different market structures and profit maximization.
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3 Maximizing Profits in Market Structures Maximizing Profits in Market Structures Market Structures are less complicated than one might think, when I told my friends that I was taking economics, they told me that everything is hard, I am finding that to be the opposite. A market structure is simply how many firms are distributing the same products, or how many competitors there are. Now I can go into more detail and tell you that market structures are the different characteristics of a market, including its size and value, the number of providers and their market share, consumer and business purchasing behavior, and growth forecasts. To further explain the different elements of specific market structures I
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This note was uploaded on 12/18/2011 for the course XECCO 212 taught by Professor Walker during the Winter '11 term at University of Phoenix.

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Filice_A_XECO_MarketStructure_4 - Maximizing Profits in...

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