Monopoly and Discussion Board Posts

1554 Words Jun 22nd, 2013 7 Pages
1. Elasticity * Analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic or inelastic: * bottled water * toothpaste * cookie dough ice cream * fresh green beans * gasoline * In your analysis, please make sure to explain your reasoning and relate your answers to the characteristics of the determinants of the price elasticity of demand.

Guided Response: Review the discussion board posts of your classmates. Note their responses to the determinants of price elasticity of demand. Respond to at least two of your classmates. Discuss with your peers the characteristics of an inelastic versus elastic good.
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Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.

Guided Response: Review the discussion board posts of your classmates. Analyze the difference in your answer to your peers in response to the different costs that are discussed . Respond to at least two of your classmates. Discuss the different types of costs like fixed, variable, or both.

Quiz
To complete the following quiz, go to this week's Quiz link in the left navigation.
Week Three Quiz

This quiz consists of 10 questions. The amount of time the quiz will take to complete will vary by individual. 1. Market Structures

Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an example for each of the market structures listed and how it relates to the particular characteristics.

Guided Response: Review the discussion board posts of your classmates. Analyze the difference between market structures. Compare your response to those of your classmates. Respond to at least two of your classmates. Discuss the way profits vary based on market structure.

2. Barriers to Entry

Analyze the major barriers