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# Differentiating Between Market Structures Simulation

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Differentiating Between Market Structures Simulation
https://ecampus.phoenix.edu/secure/aapd/vendors/tata/UBAMsims/economics2/market_structures/economics2_market_structures_frame.html

Using the link provided, access and complete the Differentiating between Market Structures simulation.

Based on the reading and 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
2) Monopoly
3) Monopolistic competition
4) Oligopoly

b. Use the following Row headings to help explain the basis for your market characterization:

1) An example of an 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, in 750-words summarize 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 ( American Express or credit card company.) 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

the solution should include the table filled-in summary and questions answered.

https://brainmass.com/economics/supply-and-demand/differentiating-between-market-structures-simulation-253117

#### Solution Summary

Differentiating Between Market Structures Simulation is discussed very comprehensively in this explanation..

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## Differentiating between Market Structures Simulation

Economics, Cost-Benefit Analysis - Year 4

Differentiating between Market Structures 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
2) Monopoly
3) Monopolistic competition
4) Oligopoly
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.)

Based on your learning and the simulation, prepare a 1000-1400 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.

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