Econ Discussion And Responses 6

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Read/review the following resources for this activity:IntroductionIn this discussion, you will apply what you have learned in Chapter 15 to real-world situations in order to see how the concepts can be applied to a very broad range of situations. Keep in mind that throughout this course, discussions are intended to bring real-world situations to the course material that we are covering each week. Part of your grade will depend on the connections you make between the article or scenario in each discussion, the material from the chapters we covered in the week, and, when applicable, your own experience. Initial Post InstructionsFind an article that describes a firm operating as a monopolist (or a near monopolist—in a market with one dominant firm and several fringe firms, the dominant firm can essentially act as a monopolist). Briefly describe the market and how the monopoly came to be. Is the monopoly firm profitable, and what is preventing other firms from entering (or, in the case of a dominant firm, what is preventing the fringe firms from gaining a larger share of the market)? Is this helpful or harmful to consumers, and should anything be done (or has something already been done) about this monopoly? What decisions can the monopoly firm make that it couldn’t in a more competitive market? How do the additional options that this firm can take help increase its profitability? Are there other markets that the monopolist firm has entered or could enter that are possible because of its monopoly in the initial market? Don’t forget to cite your article! Secondary Post InstructionsExtend the analysis—Are there other decisions or actions the firm your classmate described can take to increase its profitability? Are there other characteristics of the market (or anything else) keeping other firms from entering the market that weren’t mentioned? Are there other firms that have monopolies (or are dominant firms) in similar markets—where the reason for the monopoly is the same as the firm your classmate was discussing? Writing RequirementsGrading and AssessmentMeeting the minimum number of postings does not guarantee an A; you must present an in-depth discussion of high quality, integrate sources to support your assertions, and refer to peers’ comments in your secondary posts to build on concepts. Refer to the Discussion Forum Grading Rubric (in Course Documents). Course Learning Outcome(s): 1, 2, 3, 4, 5
1. Apply the Ten Principles of Economics (basic economic axioms) to real-world situations.
2. Predict market outcomes using simple Microeconomic models.
3. Illustrate how markets serve to allocate goods and services.
4. Analyze the welfare effects of differing market allocations.
5. Apply the simple Microeconomic models to real-world situations and determine how the assumptions or predictions of a model may need to be modified to apply to the real-world situations. Coverage/ReadingPurchase the answer to view itOur Blog. Copyright © 2018
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