We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Monopolistic Competition - Research Paper Example

Comments (0)
Research depicts monopolistic competition as a common model of competition that characterizes itself with a range of factors that include very many small firms within a common market posing relative competition (McEachern, 2011). This ensures minimal control of the prices or…
Download full paper
Monopolistic Competition
Read TextPreview

Extract of sample
Monopolistic Competition

Download file to see previous pages... This similarity is obtained due to product differentiation portrayed either physically, by perception, or by support services. Most importantly, customers view these goods as similar since they serve the same purpose.
Monopolistic competition advocates free entry into market and free exit. This enables new firms to come up with close substitutes thus enhancing competition. In a free market, a firm faces no restrictions from the government rules, financial start-up, or other considerable barriers. Additionally, free entry and exit in the market maintains profit maximization of a firm for a longer span of time. Selling price is a unique characteristic in monopolistic competition (Baumol, 2011). A firm is ever independent in decision-making. Each firm decides on commodity price and output. The seller sets the price of a good depending on circumstances. These variations of price arise due to product differentiation and other additional expenditures.
Nike and Asics portray an example of two firms in the sneaker industry, which exhibits monopolistic competition. In order to ensure maximum competition, in the large monopolistic market, Nike and Asics need to emphasize on product differentiation to attract customers. The factors that need consideration during differentiation include style, appearance, quality, performance, close substitute of the goods (Arora, 2007). Since both firms produce similar product, there is need for a difference in the products that will attract the buyers. Different buyers have different perceptions on the kind of shoe to wear or the kind of shoe they feel comfortable with while wearing.
The style of shoe tells a lot about an individual. Therefore, it is important for the two firms to first strategize and research on the style of shoe that most people prefer. This will enable the firm produce the shoe and ultimately sell it without much competition. Moreover, it is ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Analysis of Market Structures and Relating Pricing Strategies
Oligopolies are also described within a discussion providing a comparative framework. Various market strategies in each of the designated economic climates are described, with strengths and vulnerabilities of each as topics of investigation. 3. Introduction to Market Structures Marketplace realities surrounding the firm in question are the defining characteristic in terms of price and profitability.
10 Pages(2500 words)Research Paper
Wonks: Monopolistically Competitive Market to Monopoly
There are a lot of advantages for that a firm can exploit from changing market structure. These advantages are beneficial not just for the firm itself, but all the stakeholders have something to benefit from it. However, there are also certain disadvantages that a firm and its stakeholders have to go through once a firm changes its market structure.
3 Pages(750 words)Research Paper
Market Structures Research Paper
Like numerous other farmers and small business owners, the individuals depicted in the story try to sell their produce. They enter into economic transactions at several instances. The examples of the market structures from the story would be pointed out and explained comprehensively.
6 Pages(1500 words)Research Paper
Street Food Sellers
Although perfect competition is almost never found, the closest thing to perfect competition is the small businesses which sell street food in developing countries. The reason why they are a part of perfect competition is that the cost of entry and exit are very low, so any person / firm who see the existence of profit in the market can enter the market with comparatively very low costs.
7 Pages(1750 words)Research Paper
In 2007, the potato chip industry in the Northwest was competitively structured and in long-run competitive equilibrium firms we
The industry was earning a Normal Rate of Return because it was contending in a monopolistically competitive environment. In order for the industry to operate efficiently, two smart lawyers bought the firm and named it Wonks. They started to operate it as a monopoly industry in 2008.
5 Pages(1250 words)Research Paper
Market Structure
The paper follows the description of major market structures present in the study of economics based on factors such as number of firms, price elasticity of demand, barriers to entry and exit, profitability, cost efficiency, competition and several other aspects.
9 Pages(2250 words)Research Paper
Pure Competition & Monopolistic Competition
The concepts of pure and monopolistic competition in microeconomics act as a benchmark for various contemporary researchers. A careful analysis would reveal that both pure competition and monopolistic competition bear various similarities and differences, having their own set of merits and demerits.
7 Pages(1750 words)Research Paper
The Grapes of Wrath/Market structures
The paper aims to give salient and very sound examples of pure competition and monopolistic competition from this novel. This is also known as perfect competition. It is a situation where there are many consumers and producers in the market for a
4 Pages(1000 words)Research Paper
Monopolistic competition
Other features supported by mobile phones include photography and gaming. The first phone that was portable was developed in 1973 (Google, 2013). The first commercial cell phone, the DynaTAC 8000x, was introduced in 1983 into
6 Pages(1500 words)Research Paper
Monopolistic competition
eir customers, use other raw materials for products production or different packages; offer additional attendant services and products for the customers of the products) and perceived (when companies use advertising to make the customer believe that a product has some additional
1 Pages(250 words)Assignment
Let us find you another Research Paper on topic Monopolistic Competition for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us