EACH QUESTION HAS THREE to Four SOLUTIONS
Week Three- DQ-1
Name and describe the differences in the four market structures. Why is this important for business managers?
Week Three- DQ-2
Identify an organization not previously selected and recommend methods to reduce costs. What effects do technologies have on costs? What are some lower-cost sources the organization can utilize to reduce costs? What considerations might cause a profit-maximizing firm to decide to forgo using lower-cost sources?
When making decisions about marketing, production, and cost sources, factors such as pricing, nonprice barriers to entry, and product differentiation play a key role. Using Quasar, the organization from the Economics for Managerial Decision Making: Market Structuressimulation, or an organization of your choice, determine what strategy you would recommend for the organization in terms of pricing, nonprice barriers to entry, and product differentiation?
Describe the pricing and non-pricing strategies in monopolistic competition, oligopoly, and monopoly market models.
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