Perfect competition, monopolistic competition, oligopoly and monopoly.
Assignment Question:
Based on the four types of markets (Perfect competition, monopolistic competition, oligopoly and monopoly), you are required to produce a written assignment between 1,500- 2,000 words.
1. Introduction:
This should be a brief introduction about the markets. It should also provide an outline of the discussion that follows.
2. The main characteristics of each market (the four markets: Perfect competition, monopolistic competition, Monopoly and Oligopoly)
This section should explain each characteristic of each market. You also need to explain the main similarities and differences between these markets in terms of price and output determination.
3. Comment upon and contrast the economic efficiency of the outcomes under perfect competition and monopoly.
This section should explain whether the allocative and productivity efficiency can be achieved in both markets.
4. Conclusion:
This should summarize your major points. You should not introduce any new issues here, but simply draw together your major points.
Note: Please try to use figures and real life examples where possible to support your argument.