Perspectives on Industry Structures
This activity will enable you to:
Relate collusion and similar strategies in the real world with reference to industry structures
Discussion
Now that you have learned about various industry structures, think about a pure monopoly, monopolistic competition, and oligopoly from the economic and then from a consumer perspective. Then, post a response to the following:
As a consumer, what are the advantages and disadvantages of each of these industry structures?
To an economy, what are the advantages and disadvantages of each of these industry structures? Do private and social interests coincide under these industry structures? Give examples to support your reasoning.
Part 2
Examining Monopolies
This activity will enable you to:
Describe the characteristics of a pure monopoly
Discussion
You have read about pure monopoly as an industry structure and the factors that contribute to the creation of a monopoly. With reference to monopoly characteristics, post a response to the following:
Are monopolies indefinitely bad for society?
As a price setter, how will a monopolist determine price?
Provide specific examples of price discrimination that you have encountered. Do you believe price discrimination is fair
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