Assignment 1: Discussion—Market Structures
Industries can be classified beneath altered bazaar structures and this allocation acerb dictates decisions fabricated by managers aural the market. For example, in an industry classified beneath absolute competition, or in a altogether aggressive market, abounding competitors action the aforementioned artefact and access into the industry is easy. In this market, the burden to advance the aforementioned prices as the competitors is high, which characterizes this market.
On the alternative extreme, some industries are classified as monopolies and some abatement beneath monopolistic competition. In a monopoly, there is alone one provider of a artefact or a service, which has an breakable demand. In this case, there is little allurement for the cartel to be able or amount competitive. In a monopolistically aggressive market, there are abounding firms affairs a artefact or account that is alone hardly differentiated from one another, and in the continued term, these firms alpha assuming characteristics of a altogether aggressive market.
Find an commodity about an industry in the United States, such as the biologic industry. You can argue sources such as the Wall Street Journal, Financial Times,Bloomberg Markets, the Economist, US News and World Report, and alternative publications for your reference.
After account the article, acknowledge to the following:
Identify the bazaar anatomy that best characterizes the industry declared in the article.
Explain the factors you advised back anecdotic the bazaar anatomy for this industry.
Analyze whether this industry will assignment bigger if it changes its bazaar action and starts assuming characteristics of addition bazaar structure.
Critically assay the advantages and disadvantages of the bazaar structures that you advised in the readings.
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