Assignment:
Please provide 200 to 300 word response to the following question. Make sure you start each sub-question in a new paragraph. Remember to follow all citation rules.
What are the conditions for a perfectly competitive market? What are the conditions for a monopolistic market? What are some features of an oligopolistic market? How would you explain the differences among these market structures? Identify which market structure your organization competes in and why you think so.
Please provide 200 to 300 word response to the following question. Make sure you start each sub-question in a new paragraph. Remember to follow citation rules as closely as possible.
What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets?