Firm and Market Structure
The main purpose of the paper is to show me that you are able to apply the concepts you learned during our firm and market structure section (Chapters 13-17).
Identify a firm. You will be doing research on this firm. Specifically, try to answer the following questions:
What market structure does this firm participate in? How do you know?
What are some types of costs that this firm faces? What are its largest costs? Be specific. (You may want to research actual numbers).
Is the firm profitable? Why or why not? Is it experiencing economies of scale? How do you know?
What is the long-run outlook for this firm? Be sure to support your answer.
Once you have done research adequately addressing these four areas, write a well-organized paper describing your findings. YOU SHOULD NOT SEND A LIST OF YOUR ANSWERS TO THE FOUR QUESTIONS. THE INFORMATION NEEDS TO BE SYNTHESIZED INTO AN ACTUAL PAPER. As part of the paper, be sure to show a representative graph of your firm. This graph will depend on the market structure of the industry it participates in as well as whether it is making a profit.
Give a brief overview of the event i.e summary of your source article.
Discuss how your article relates to concepts that we discussed in class. A discussion of supply, demand, prices, shifts, etc is essential.
Think of ways economics could be applied to the situation that were not discussed in the article.
Papers should be no more than 2 pages long. Graphs and works cited do not count towards your page limit.
You will receive up to 2 points
or a paper that is well-organized, grammatically correct, and contains a works cited page. Points will be deducted if the paper is weak in any of these areas. Thus, the maximum grade you can receive is 5. You may use MLA or APA format.