ECON312N Week 4 Discussion Latest 2020 November

ECON312N Principles of Economics

Week 4 Discussion

Market Concentration of Firms and the Determination of Price and Output

Required Resources

Read/review the following resources for this activity:

Textbook: Chapter 9, 10

Lesson

Minimum of 1 scholarly source (in addition to the textbook)

Initial Post Instructions

Consider the following statement:

Firms in the healthcare industry do not seem to have features of a perfectly competitive market structure and, therefore, must not be classified as such. Those firms fall somewhere within the continuum from monopolistically competitive and oligopoly markets to monopoly markets (specifically regional monopolies).

For the initial post, decide if you agree or disagree with the statement.

If you agree with this statement, provide at least two examples of firms in the healthcare industry (pharmaceutical companies, medical centers, insurance companies, etc.), and identify the features the firms you selected have that make you believe that they should be classified in one or several of the following market structures: monopolistically competitive and oligopoly market structures; monopoly market structures.

If you disagree with the statement, name at least two firms in the healthcare industry (pharmaceutical companies, medical centers, insurance companies etc.), and provide reasons why those firms you selected can be classified as perfectly competitive firms.

Note: The two examples must come from different industry groups. For example, both firms cannot be insurance companies.

Follow-Up Post Instructions

Respond to at least two peers or one peer and the instructor. Further the dialogue by providing more information and clarification. Refer to the rubric for the criteria required for a response to be considered substantive.

Writing Requirements

Minimum of 3 posts (1 initial & 2 follow-up)

Minimum of 2 sources cited (assigned readings/online lessons and an outside scholarly source)

APA format for in-text citations and list of references