Chamberlain ECON 312 ECON312 Week 4 Discussion Prices Under Different Market Structures
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ECON 312 Week 4 Discussion Prices Under Different Market Structures (Chamberlain College of Nursing)
How are prices determined under perfect competition? Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? How does market structure affect the firm's ability to set the price for its products?
Instructor lead discussion question
Question:
What are barriers to entry?
What are barriers to entry?
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