In an eight- to ten-page paper, describe each market structure discussed in the course (perfect competition, monopolistic
competition, oligopoly, monopoly), provide a real-life example of each market, and respond to the following for each
market structure:
1. Indicate how high entry barriers into a market will influence:
a. Long-run profitability of the firms
b. Cost efficiency of the firms in the industry
c. Likelihood that some inefficient firms will survive
d. Incentive of entrepreneurs to develop substitutes for the product supplied by the firms
2. Are competitive pressures present in markets with high barriers to entry? Explain.
3. Describe which market structure you would prefer for selling products. Explain why and support your answer
with the characteristics of that market.
4. Describe which market structure you would prefer for buying products. Explain why and support your answer
with the characteristics of that market.
5. How does each market structure respond to price changes of the products that they sell? Explain whether each
market structure will be selling elastic or inelastic products, and how this will affect the market price charged.
6. How does the role of the government affect each market structure's ability to price their products?
7. How does international trade affect each market structure?
Your paper will need to include a title page, reference page, and in-text citations that are formatted in accordance with
APA style as outlined in the Ashford Writing Center. Also, your content should be eight to ten pages, which does not
include your reference or title page. You will need to include five academic sources from the Ashford University Library
to include in your paper as part of your research to support your work and analysis.
Writing the Final Paper
The Final Paper:
1. Must be eight to ten double-spaced pages in length, and formatted according to APA style as outlined in the
Ashford Writing Center.
ECO204: Principles of Microeconomics
Online
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2. Must include a title page with the following:
a. Title of paper
b. Student's name
c. Course name and number
d. Instructor's name
e. Date submitted
3. Must begin with an introductory paragraph that has a succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
6. Must use at least five scholarly sources from the Ashford University Library.
7. Must document all sources in APA style, as outlined in the Ashford Writing Center.
8. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.