Assignment
Details:
You have learned that some markets are competitive but that there are also a few markets that are serviced by just one firm. Examples include utility companies that provide electricity and natural gas to homeowners.
Draw on your own experiences and what you have learned in Unit 4 to discuss the following points. Use economic concepts; and use references in your main contribution.
Identify and describe your local utility.
Explain what products or services it provides.
Are there other companies that provide these products in your community?
Have prices increased in the last 2 years? Explain.
Do you think prices would be higher or lower if there were 2 or more providers? Please explain.
Deliverable Length: 200 words (minimum)
Reading Assignment
Read the following chapters from the Microeconomics textbook:
• Chapter 7
o Barriers to Entry, Economies of Scale, p. 98
o Welfare and Monopoly, pp. 103-150
o Antitrust, pp. 110-116
o Price Discrimination, p. 104.
o Average Cost Pricing, p. 105.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.