Monopoly Market Structure Analysis
Added on 2020-02-12
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ECONOMICS FORBUSNIESS
Table of ContentsINTRODUCTION...........................................................................................................................5Assignment 4...................................................................................................................................5Question 1 Describe how an industry compares with different firms located in the perfectlycompetitive market. Is Australian industry is perfectly competitive industry?..........................5Question 2 Determination of price exists in the perfectly competitive market and also ascertainquantities they sell.......................................................................................................................5Question 3 Is it possible to earn profit or loss in short time period in perfectly competitionmarket. Explain diagrammatically...............................................................................................6Question 4. Determine the possibility of firm to earn above normal profit in long term whilelocating perfectly competitive market.........................................................................................7Assignment 5...................................................................................................................................8Question 1 Explain how current sector will compare with another industry in relation tovarious conditions of existence of monopoly market. Is you industry a monopoly industry?....8Question 2 How to determine price, quantity sold by firm in the monopoly market structureand also consider the cases of a private monopoly and a regulated monopoly...........................8Question 3 An entity operated their business in monopoly market can earn super normal profitor not. ..........................................................................................................................................9Question 4 Can monopoly industry make an economic profit or economic loss in long run? .10ASSIGNMENT 6...........................................................................................................................10Question 1 Describe conditions to know the market status of monopolistic market. Is yourindustry a monopolistic competition industry?..........................................................................10Question 2 How firm determine price to be charged for their product or sell specific quantityin the monopolistic market. ......................................................................................................11Question 3 Explain using diagrams how a firm will make effort in order to generate profit byminimizing loss conditions in the same market. .......................................................................11Question 4 Long run profit generation by firm in the monopolistic market..............................12Question 5 Conditions to be satisfied by firm in order to maintain their existence as oligopolymarket player.............................................................................................................................13Question 6 How oligopoly market players determine their price to attract customers and alsodetermine quantity number to sell.............................................................................................14Question 7 Reasons behind earning higher profit in the current market..................................14Question 8 Explain the factors behind earning higher amount of profit in the long run...........15Question 9 Should a firm in your industry spend money on promotion, branding and/orimage? Why, or why not?..........................................................................................................15
Question 10 ...............................................................................................................................15Discuss efficiency in your industry. Is this the best outcome for efficiency? Why or why not?...................................................................................................................................................15Are there any benefits in your industry that compensate for a loss of efficiency, is there is anyin your industry..........................................................................................................................16If there is no loss of efficiency in your industry, discuss very briefly why all other marketstructures cannot be like your industry......................................................................................16Conclusion.....................................................................................................................................16
Illustration IndexIllustration 1: economic profit or economic loss in short run in perfect competition......................6Illustration 2: Profit or loss in long run in Perfect competition.......................................................7Illustration 3: Super normal profit or economic loss in short run monopoly market......................9Illustration 4: Profit or loss situation in long run under monopoly market..................................10Illustration 5: Above normal profit or economic loss in long run monopolistic market...............13
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