ECON 600 Research Project 1
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Assignment Instructions
Complete your Research
Project 1 in a Word document, APA formatted, and then submit it in the
Assignment section of the classroom by midnight, EST, Day 7.
The instructions concerning this assignment as well as the grading rubric are reproduced below.
The instructions concerning this assignment as well as the grading rubric are reproduced below.
Pricing strategy varies significantly across different market
structures. The pricing guidelines in a monopoly market are relatively
straightforward. Since the company is the only producer offering the product,
it can mark-up the price as far as the customer can bear. The pricing
strategies for a producer operating in a perfect competition structure are also
fairly intuitive. They are price takers, and hence price is set at the marginal
cost of the product. This is due to the fact that there are many firms offering
nearly identical products. However, there is optimal pricing for the market
structures offering differentiated products with many competitors (oligopoly)
or a few producers (monopolistic competition). These are much more complex and
involved. It has been stated that differentiation in products that creates
differences in customer valuation is the most prevalent type of competition. In
such markets pricing strategies may include the three C’s of cost, competition,
and customer.
Develop a paper detailing an analysis of market structures and
relating pricing strategies that are suitable for each of these structures.
Furthermore, include a real world example of pricing strategy for a specific
company by identifying its market structure.
Your paper should be between 1750 and 2500 words, in APA Format
and structured as follows:
Cover page with a running head ?
Abstract?
1. Perfect Competition?
1.1. Description?
1.2. Pricing Strategies?
2. Monopolistic competition?
2.1. Description?
2.2. Pricing Strategies?
3. Oligopoly ?
3.1. Description?
3.2. Pricing Strategies?
4. Monopoly?
4.1. Description?
4.2. Pricing Strategies?
5. Case Study?
6. Conclusion?
References
Abstract?
1. Perfect Competition?
1.1. Description?
1.2. Pricing Strategies?
2. Monopolistic competition?
2.1. Description?
2.2. Pricing Strategies?
3. Oligopoly ?
3.1. Description?
3.2. Pricing Strategies?
4. Monopoly?
4.1. Description?
4.2. Pricing Strategies?
5. Case Study?
6. Conclusion?
References
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