Market Power

| July 17, 2015
Assignment 4-1: Project Part 3. Market Power 60 points Purpose To assess your ability to: explore the effects of imperfect information on the markets. compare key characteristics of the various market structures of monopoly, oligopoly, monopolistic competition, and perfect competition. evaluate the extent of a company’s market power. discuss government regulations of less than competitive market structures and firms. recognize how changes in supply, demand, and government regulations affect market outcomes. Overview In order for a company to be successful, it is essential to understand the market structure and the business environment it operates in. In this part of the project you will identify your company’s type of market, its major characteristics, and its price dynamics. Completing this assignment requires that you make yourself familiar with the relationships among the revenues, costs, profits, and profit-maximizing decisions for each of the market types. You will need to determine which type most closely fits your company’s stuation and justify your decision. Action Items Company is Southwest Airlines Prepare a 2-4 page report titled “[Your Company] Market Conditions”. The report should be based on the publicly available information that you obtained. Compose your report in Microsoft Word following APA guidelines. Please include your name, the assignment name and number, the course and section number, and the date on your title page. The report should contain all sources you utilized in its preparation, properly cited according to the APA guidelines. Address the following information in your report: An overview of the market – general information. Major players in the market – you and your competitors. Your current and potential customers. The market structure and its characteristics: Type Geographic boundaries Sources of market power Measures of market power An overview of your company’s strategic position: its strengths and weaknesses Conclusion – market dynamics and your company’s role. Submission Instructions Submit your paper to at least 48 hours before the due date. Respond to any feedback you received from this system. Click the Submit button to upload your completed assignment before class starts. Bring a copy of your paper to class. Grading Criteria Content: All of the required elements are included in the assignment; main ideas are addressed; content is correct, accurate, and of high quality: 0 – 20 points. Analysis: Analysis of the information is evident and the calculation is accurate. : 0 – 20 points. Effective communication: Communication is clear, concise, and well presented; critical thought is evident; recommendations and conclusions refer to and rely on the analysis of the data: 0 – 20 points. APA Format: Follow APA guidelines when you cite your sources. Up to five points will be deducted for NOT using the correct APA format.

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