Maximizing Profits in Market Structures

Maximizing Profits in Market Structures Name University of phoenix Angela Rogers XECO 212 AUGUST 5, 2012 The sparing today is important in our passing(a) lives and how our society operates. or so of the most important intimacys that we should affect when studying economics is the principals and roles of the food grocerys, the militant securities industrys, monopolies and oligopolies. All of these ar important to the consumer. Economists assume that there ar a subjugate of different buyers and merchandiseers in the marketplace (investopedia). The competitory market passel be defined as a market with legion(predicate) buyers and sellers who trade identical harvest-feasts so that each of the buyer and sellers is a impairment taker (Principles of Economics, p.290). In the competitive market, each and both seller and buys accepts the pre dogged price for the replete(p). The cost of a point of intersection is determined by how much the buyers are willing to reconcile for the product and how much the seller is willing to sell the product for. When enunciate about the competitive market another trait is that whatever seller offers the product can enter or expire the market without any restraints (Principles of Economics, p.290).

When a firm is competitive is when the price that the bank line charges for the products, is equivalent to the marginal cost which makes the good and is, or really close to the equilibrium (Makiw, p. 3060). When someone is describing the market the first thing that they will describe is that the market is compet itive, and this is collect to prices of goo! ds going up and down. This helps the market stay competitive with the economy. In the economy that we accreditedly subscribe if you are selling goods and you are not competitive you whitethorn lose business to your current competitors or future competitor. An important market structure is the noncompetitive market. According to the research that I have discover according...If you extremity to get a full essay, order it on our website: OrderEssay.net

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