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Below are four companies operating in the United States today. Using your knowledge of market structures, attempt to classify each of the companies as either
- Below are four companies operating in the United States today. Using your knowledge of market structures, attempt to classify each of the companies as either perfect competition, monopolistic competition, oligopoly, or monopoly. Provide rationale for each of your assessments and explain why you chose one particular market structure over another. Additional information is provided alongside each of the firms. Make sure you discuss the level of pricing power they exercise in the marketplace.
- John Deere
- Chick-Fil-A
- Duke Energy - Cincinnati, Ohio Service Area
- Download theMarket Structure Table.docxfile.
Firm # 1 | Firm # 2 | Firm # 3 | Firm # 4 | |
Firm name | ||||
Number of firms competing with each other? | ||||
Nature of the product? | ||||
Entry into the market? | ||||
Availability of information to market participants? | ||||
Firm's control over pricing | ||||
Type of market structure |
- Fill in each box for all four firms. In the last row of the table, determine the market structure, or if it is a multi-divisional structure, the market structure for each of its major units for each of the four firms. Your answers should be thorough and demonstrate clear, insightful critical thinking.
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