What are the advantages and disadvantages of simulation modeling? Be specific and provide work-related examples to illustrate your points.© BrainMass Inc. brainmass.com October 25, 2018, 5:26 am ad1c9bdddf
Simulations is a great tool where there may be cases where mathematical models are not applicable due to the fact the system is either too complex, the system's cannot be ...
Differentiating between Market Structures Simulation
Dear OTA, I have another difficult task, I need help with the following and correct formatting for this project to incorporate into a final paper, I hope you can help! Please advise, Thank you! OTA, I found the information in the library for 1 credit. This question has been ask before however, if you think it not what is in the library I am willing to increase and restrict. I expect the formattimg and information to perfection. Do you want to do that?
The Differentiating between Market Structures simulation. Based on the simulation, prepare a table that compares and contrasts the various characteristics of the four market structures. Format the table as follows:
a. Column headings should be the four market structures:
1) Perfect competition
3) Monopolistic competition
b. Use the following Row headings to help explain the basis for your market characterization:
1) An example of a organization
2) Goods or services produced by the organization
3) Barriers to entry
4) Numbers of organizations
5) Price elasticity of demand
6) Economic profits (Is there a presence of economic profits? Yes or no.)
c. Based on your learning and the simulation, prepare a 700-1,400-word paper summarizing the content of the simulation. Address the following questions:
1) What are the advantages and limitations of supply and demand identified in the simulation?
2) Select an organization with which you are familiar. Identify the market structure of your selected organization. Evaluate the effectiveness of this structure for the organization.
3) Analyze how organizations in each market structure maximize profits.