Chapter 9 - Market Structures Worksheet
Chapter 9 - Market Structures Worksheet
Chapter 9 - Market Structures Worksheet
a)
b)
c)
d)
3) Economies of Scale is the concept that larger companies can produce products at
lower costs per unit than small companies. Explain why this is used to justify natural
monopolies.
7) In which of the four markets would consumers need the protection offered by price
ceilings? Explain your thinking.
9) Microsoft Windows at one time would have been considered this type of monopoly?
10) The United States Postal Service is this type of monopoly?
13) What type of demand (elastic or inelastic) do you think you would find in a perfectly
competitive market (for each firm, not each product)? Why do you think this is true?
14) What type of demand (elastic or inelastic) would you expect to find with a
monopoly? Explain.
15A) In what two market structures would you be most likely to find product
differentiation?
15B) Why would you not find product differentiation in the other two markets not listed
in the previous question?
16) In what two market structures would brand loyalty be most important? Also,
explain why it is NOT important to the other two market structures.
17) Why do you think companies that have a monopoly are often less efficient than
companies where there is competition?
18) If Kayla’s Steakhouse merged with Bri’s Burgers and Steaks what type of merger
would this be?
19) If Boeing (they make planes) and Delta Airlines were to merge, what type of merger
would it be?
20) If The North Face merged with Apple what type of merger would it be?