Points Possible: 50 Due Date: 11/20/2012 11:59:59 PM CT The Discussion Board (DB) is part of the...

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Points Possible: 50 Due Date: 11/20/2012 11:59:59 PM CT The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active...

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Points Possible: 50 Due Date: 11/20/2012 11:59:59 PM CT
The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active participation of students and the instructor to create robust interaction and dialogue. Every student is expected to create an original response to the open-ended DB question as well as engage in dialogue by responding to posts created by others throughout the week. At the end of each unit, DB participation will be assessed based on both level of engagement and the quality of the contribution to the discussion.
At a minimum, each student will be expected to post an original and thoughtful response to the DB question and contribute to the weekly dialogue by responding to at least two other posts from students. The first contribution must be posted before midnight (Central Time) on Wednesday of each week. Two additional responses are required after Wednesday of each week. Students are highly encouraged to engage on the Discussion Board early and often, as that is the primary way the university tracks class attendance and participation.
The purpose of the Discussion Board is to allow students to learn through sharing ideas and experiences as they relate to course content and the DB question. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB will be accepted after the end of each week.
Perfect competition is the first of four basic market models that we study in this course.
Choose a market for a good in your area that seems to be a perfectly competitive market. Write four substantive paragraphs that describes the market and answers the following questions:

Identify the buyers andsellers as well as the goods or services.
How closely do real-world conditions match the characteristics listed in the model?
Are the sellers’ price takers?
Do they complete using price?
Is the good in question standardized?
Is this market regulated by government in any way
Explain the competitive environment.

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Answered Same Day Dec 21, 2021

Robert · Accepted Answer

A perfect competitive market structure is a market structure in which the following criterion are 
met: 
1) All firms sell identical products 
2) Large number of buyers 
3) Large number of sellers, each having small market share 
4) All firms are price takers 
5) All firms have a relatively small market share 
6) Buyers know the nature of the product being sold 
7)  Industry is characterised by freedom of entry and exit. 
By all these characterstics of perfectly competitive markets , it can be seen that all these are 
difficult to satisfy together in real world.  Perfectly Competitive markets are primarily used as a 
bench mark against other market structures which exist in real world.

Points Possible: 50 Due Date: 11/20/2012 11:59:59 PM CT The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active...

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