UOP ECO 212 Week 3 Learning .pdf
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ECO 212 Week 3 Learning Team
Differentiating Between Market Structures
Table and Paper
Check this A+ tutorial guideline at
• Resources: Principles of Economics textbook, articles, and
Tomlinson Economics Videos
• Prepare the Market Structures Table and Paper based on your
learning, readings, and videos.
• Complete Part I: Differentiating Between Market Structures Table
o Prepare a table that describes the characteristics of competitive
markets, monopolies, and oligopolies. Format the table as follows:
• Column headings must be the four market structures.
• Row headings must explain the basis for your market
Perfect competition Monopoly Monopolistic Competition
An example of an organization
Goods or services produced by the organization
Barriers to entry
Numbers of organizations
Price elasticity of demand
Economic profits: Is there a presence of economic profits? (Yes or
Complete Part II: Differentiating Between Market Structures Paper
o Write a 1,050- to 1,400-word paper summarizing the content of the
table. Address the following questions:
• Compare and contrast public goods, private goods, common
resources, and natural monopolies.
• Explain how labor market equilibrium is affected by the supply and
demand of labor.
• Select an organization with which you are familiar and identify the
market structure of that organization. Evaluate the effectiveness of
this structure for the organization.
• For your selected organization, summarize the factors that affect
labor supply and demand.
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