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Activities
Learning
Resources – Chapters 8 and 9
i have uploaded the book to he
Activities
Learning
Resources – Chapters 8 and 9
i have uploaded the book to help.
you will also need to repsond to two different peers.
Discussion 4
Option #1:
Our text explains that the perfectly competitive market is “a hypothetical extreme,” yet we still find it useful to study this market. Identify an industry connected to your career path or that you are interested in from the perfectly competitive market model. Why would this industry be interested in studying the perfectly competitive market model? How would the results from the perfectly competitive market process help a firm in this industry?
Responses: Identify a similarity or difference between your peers’ arguments and your own.
OR
Option #2:
When we consider monopolies, it is interesting to note that in the long run, most perceived monopolies do have to compete with other monopolies. That is, if my electric company is bad, I can move to another electric company’s zone. Consider the short run where it may not be an option to simply move to an area served by another company.
Identify a monopoly that is prevalent in your life. Is it a natural or legal monopoly? How do consumers benefit from your monopoly being a monopoly? What are some drawbacks?
Responses: Compare your peers’ responses to your own. How similar or different is their assessment?
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