Market Structure
Not what you're looking for?
Select one of the market structures (monopoly, oligopoly, monopolistic competition, or perfect competition) and identify a company for that market structure. Then write a paragraph in which you describe the pricing and non-pricing strategies in use by that company.
Purchase this Solution
Solution Summary
This solution deals with one of the market structures as well as describes the pricing and non-pricing strategies in use by a company.
Solution Preview
Hello
The Pure Competitive Market is one of four market structures which is characterized by the following characteristics:
1) There are many buyers and sellers in the market.
2) The goods offered by the various sellers are largely the same (standardized or homogenous) which means that consumers are indifferent as to which firm they buy from.
3) Firms can freely enter or exit the market. This means that there are no significant legal, financial or technical barriers that prevent new firms from starting up, or old firms from closing down.
According to Mc.Connell & Brue (2005), as a result of its characteristics, the perfectly competitive market has the following outcomes:
a) The ...
Purchase this Solution
Free BrainMass Quizzes
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Motivation
This tests some key elements of major motivation theories.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Basics of corporate finance
These questions will test you on your knowledge of finance.