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The Final Paper

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The purpose of this paper is to provide analysis and answers to important questions regarding market structure that will help the mayor understand the structures of many of the businesses. For this, first of all, the types of market structure are discussed with their exclusive characteristics. In the next phase, how high entry barriers can impact the long-run profitability of the firms and the competitive pressures is deliberated. Later, the price elasticity of demand in each market structure and its effect on pricing is scrutinized. Subsequently, in the end, what effects government’s role can play in market structure’s ability to price the product and international trade’s influence on each market structure is thought about. This study will make available outstanding information regarding the market structure with real-time examples.

The Final Paper: Market Structure …show more content…

Thus, this signifies that the market structure overall look after and govern the degree of competition for merchandises and facilities in a specific market (Arndt, 2009). In fact, in a true implication, the market structure plays a pivotal and significant role in deciding pricing, economic health of any region (market), and business’ implementation and its furtherance.
Focus upon researches in economic field, it is found that, basically, there are five major types of market structure are observed worldwide that are – Perfect competition, monopoly, duopoly, oligopoly, Monopolistic Competition. However, there are other different forms of hybrid market structure have been established with the passage of time (Arndt,

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