Describe each market structure discussed in the course

Question

You have been hired as a consultant by your local mayor to look at the various market structures. Your role is to provide analysis and answers to these important questions that will help the mayor understand the structures of many of the businesses in his city:

• Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
• Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market.
• Describe how high entry barriers into a market will influence long-run profitability of the firms.
• Explain the competitive pressures that are present in markets with high barriers to entry.
• Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market.
• Describe how the role of the government affects each market structure's ability to price its products.
• Discuss the effect of international trade on each market structure.

Your paper will need to include a title page, a reference page, and in-text citations properly formatted according to the APA style guide. Also, your content should be eight to ten pages, which does not include your reference or title page. You will need to include at least five scholarly sources from the Ashford Library in your paper as part of your research to support your analysis.

Answer 1

For this assignment, you have to provide your analysis on different market structures. Write a paper which includes the following points all along with a title and reference page, the citations and references must follow APA style. You have been appointed as a consultant via your local mayor to analyze at different market structures. Your role is to give analysis and answers to such significant questions that will assist the mayor understand the structures of most of the businesses in city: 1) Illustrate each and every market structure described in the course (perfect competition, monopolistic competition, oligopoly and monopoly) and describe two of the market features of each market structure. 2) Recognize one real-life illustration of a market structure in your local city and relate your illustration to each of the features of the market. 3) Illustrate how high entry barriers to a market will affect long-run profitability of the firms.