Competition and Market Structures Assignment Help
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Define ‘Market structures’
You would come across with different market structures which is usually adopted by firm and helps in proper operation. There are different types of structure that can surely influence any behavior of firm which allows in becoming highly efficient and enhance profit. Neo-classical theory of any firm can easily distinguish market structures and each of them comes up with their own assumptions and characteristics.
Competition and market structures assignment help will deliver knowledge on market structures which enable to distinguish them on the basis of their competition that happens between different firms performing in the market. The structure of market defines to number of firms in market, their market shares and other factors that can affect level of competition.
Types of market structures
While getting competition and market structures homework help you will be well acquainted with the four types of market structures. They are:
- Perfect competition: It occurs only when there are many small firms into existence and has ability to compete with each other. Firms that belong to competitive class can certainly produce socially optimal output level at a minimal cost per unit.
- Oligopoly: It occurs only when there are few firms available. In case they collude, they can reduce output and drives up profit in a similar manner of monopoly market. Due to strong incentives to deceive collusive agreements, oligopoly ends up competing with each other.
- Monopoly: It is a firm that does not have any competitors in industry. Competition and market structures assignment help will make you aware that it helps to reduce output which can easily drive up price and finally enhance the profit level.
- Monopolistic competition: It is an industry that would contain competing firms and each firm would come up either with similar or slightly different product.
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