Select an industry or firm. State its market structure (pure competition, monopoly, monopolistic, or...

Question

Select an industry or firm. State its market structure (pure competition, monopoly, monopolistic, or oligopoly). Next, please define the characteristics of the industry or firm that support your selection of market structure. Lastly, describe and illustrate graphically the firm's profit maximizing behavior in particular MR=MC under the above-mentioned market structures or conditions.

In this written assignment, the quality of your writing and the application of APA or MLA format will be evaluated in addition to your content. Evaluation based on these criteria is designed to help you prepare your college projects, which must be well-written and follow APA or MLA guidelines. Each written assignment should contain a minimum of 300 words, but no more than 400 words. Make sure that you use correct spelling, grammar, and punctuation.

I MUST HAVE IT BY FEB.26 AT 15:00 Eastern TIME

Robert · Accepted Answer

INDSUTRY STRUCTURE 
The industry selected for this task is the egg industry in the US. The market structure most 
closely resembled is that of perfect competition as is evident from the facts highlighted 
below.  
 There are many sellers in the egg market along with a host of buyers. It is estimated 
that about 100 firms have a collective market share of 83% while there are numerous 
small players which are also in the egg business (AEB, 2016). 
 The product sold by these players is largely homogenous as there very limited variety 
in egg (Mankiw, 2014). 
 It is apparent that there is high level of competition that exists in the egg industry.

Select an industry or firm. State its market structure (pure competition, monopoly, monopolistic, or oligopoly). Next, please define the characteristics of the industry or firm that support your...

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