Long-run profitability of the firms

In an eight- to 10-page paper, describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, monopoly), provide a real-life example of each market, and respond to the following for each market structure:
Indicate how high entry barriers into a market will influence:
Long-run profitability of the firms
Cost efficiency of the firms in the industry
Likelihood that some inefficient firms will survive
Incentive of entrepreneurs to develop substitutes for the product supplied by the firms
Are competitive pressures present in markets with high barriers to entry? Explain.
Describe which market structure you would prefer for selling products. Explain why and support your answer with the characteristics of that market.
Describe which market structure you would prefer for buying products. Explain why and support your answer with the characteristics of that market.
How does each market structure respond to price changes of the products that they sell? Explain whether each market structure will be selling elastic or inelastic products, and how this will affect the market price charged.
How does the role of the government affect each market structure’s ability to price their products?
How does international trade affect each market structure?
The Market Structures Final Paper
Must be eight to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center.
Must include a separate title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must use at least five scholarly sources from the Ashford University Library in addition to the course text.
The Scholarly, Peer Reviewed, and Other Credible Sources table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
Must document all sources in APA style as outlined in the Ashford Writing Center.
Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.
Required Resource

Text
Amacher, R., & Pate, J. (2013). Microeconomics principles and policies [Electronic version].

Recommended Resources

Articles
Cororaton, C. B., & Peterson, E. B. (2012).Potential of regional and seasonal requirements in US regulation of fresh lemon imports. The World Economy, (8), 1022. Retrieved from http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9701
The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article will assist you in your learning activities this week.
Mandel, B. R. (2012). Why is the U.S. share of world merchandise exports shrinking? Current Issues in Economics & Finance, 18(1), 1-11. Retrieved from http://www.ny.frb.org/research/current_issues/index.html
The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article will assist you in your learning activities this week.
Multimedia
Khan, S. (n. d.). Currency exchange introduction [Video file]. Retrieved from https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/currency-tutorial/v/currency-exchange-introduction
This video will assist you in your learning activities this week. This video has transcript.

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