Microeconomics<\/p>\n
Apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. Evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes. Assess how the market structure positively and negatively affects the organization\u2019s ability to earn an economic profit over time and evaluate the effectiveness of the organization\u2019s competitive strategies.<\/p>\n
Select an industry. Identify an organization in that industry.<\/p>\n
Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon and how this market structure differentiates from the other alternatives.<\/p>\n
Describe the level of competition the organization will face if under each of the following market structures:
\u2022 Oligopoly
\u2022 Perfect competition
\u2022 Monopoly
\u2022 Monopolistic competition<\/p>\n
Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Evaluate the effectiveness of these strategies in the market structure you identified. Consider the following:
\u2022 Expected changes in supply and demand
\u2022 Price elasticity of demand
\u2022 Market structure
\u2022 Government regulations<\/p>\n
Make recommendations related to the strategies the organization might consider to maximize its profits and consider the following:
\u2022 What are the ethical implications of these strategies?
\u2022 Does this strategy align with the organization\u2019s current values?
\u2022 Does this strategy align with your own values?<\/p>\n","protected":false},"excerpt":{"rendered":"
Microeconomics Apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. Evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-183831","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/183831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=183831"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/183831\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=183831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=183831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=183831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}