Major Market Structures Essays -- Economics

During the initial phase of starting line up a business, at that place are many factors to weigh in. If you craving a particular lovable of lifestyle, then one of the major factors to determine is what kind of market you would like to be in. There are intravenous feeding major market structures, perfect competition, monopolistic competition, oligopoly, and monopoly. All of these markets cave in demonstrable and negative attributes, including but not limited to, barriers to entry, how many sellers are in a particular market, and the stress of running a business firearm keeping a keen eye on product pricing. many entrepreneurs may not want to agonize over anything at all, and enter in a perfect competition market where they know scarce what the prices are and what they expect to make at all times. Then there are some investors that enjoy the competition and would rather be in a monopolistic competition market. However, its no secret that the mass of the public, if giv en the absolute choice, would choose to be in a monopoly. This kind of market of course, is very hard to acquire, so a very comely choice would be an oligopoly. Both a monopoly and an oligopoly are at the cover song of the list as far as profit is pertain. No press which market one chooses to participate in, they all have similar goals, and that is to understate costs and maximize profits.In a monopoly, there is only marketer with a product or service, meaning there are no close substitutes, so there is no competition to be concerned about and the barrier for others to enter is virtually inaccessible. One may have an exceptionally large control on the market, and can also impose it as much as they would like, other than being limited by market demand, depending on the elasticity of ones product... ...& 211. Mason, OH. CENGAGE Learning.Bade, Robin Michael Parkin (2001). Foundations of Microeconomics. Boston, Massachusetts. Addison-Wesley.Colander, David (2008). Microec onomics, seventh edition. New York, NY. McGraw-Hill Paperback.Eaton, B. Curtis Eaton, Diane F. and Douglas W. Allen (2002). Microeconomics, 5th Edition. Saddle River, NJ. Prentice Hall.Frank, Robert A. (2006). Microeconomics and Behavior, sixth Edition. New York, NY McGraw-Hill/Irwin.Mankiw, N. Gregory. (2000). Principles of Microeconomics, 2nd Edition. Oklahoma City, OK. South-Western Pub.Pindyck, Robert S. and Daniel L. Rubinfeld. (2008). Microeconomics, 7th Edition. Saddle River, NJ. Prentice Hall.Ruffin, Roy J. and Paul R. Gregory. (2000). Principles of Microeconomics, 7th Edition. Boston, Massachusetts. Addison-Wesley.