Project #106551 - Short Essay - Microeconomics

Write a short (2-3 page, double-spaced, typed) essay identifying and describing the conditions you observed for a business in Monopolistic Competition or a Differentiated Oligopoly who differentiates their product. Your paper should also provide brief market analysis including the state of the market before and after the differentiation, as well as the observed changes that resulted. Specifically, the following questions should be addressed:

  • What type of market structure was the product or service in when the differentiation occurred?
  • What is the differentiation? Describe specifically what the differentiation was and tell us what that means for rational business price and production decisions.
  • What was the observed change in the equilibrium price and quantity in the market, as well as the company?
  • Evaluate the result of the observed change from perspectives of efficiency and equity drawing upon price/cost margins for your explanation.
  • Evaluate whether the decision to differentiate the product was a good move for that business at that time.

Evaluate whether the decision to differentiate the product was a good economic decision for that business at that time. That is, were economic or normal profits realized as a result?

 

APA Style, and MUST referance sources! 

 

Grading Rubric: 

Criteria Description Points
Content The answers show a clear understanding of relevant economic concepts, ideas and/or central points inquired about. Answers are clearly defined and supported by concrete substantial and relevant evidence or examples. Major points are explained with a degree of specificity. There are no errors of omission for the question posed. 30
Organization and Mechanics The answer is organized in paragraphs that are unified, coherent, and effective, with transitions between ideas. All sentences are correctly constructed, logical and complete. All writing avoids spelling errors, awkward language, improper grammar, flawed punctuation, and other technical mistakes. 10
References, Citation and Format Appropriate scholarly references are utilized and properly cited. The assignment is in a standard type 12 point font. A cover page and reference page are included. The assignment is submitted in Word (.doc) or (.docx), Ascii (.txt) or Rich Text Format (.rtf). 5
Punctuality The dropbox must be submitted by Sunday at 11:59 pm CT. A per diem penalty accrues every day the submission is late. 5
Total   50

Subject Business
Due By (Pacific Time) 02/06/2016 05:00 pm
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