Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.
GET A 40% DISCOUNT ON YOU FIRST ORDER
I’m working on a micro economics discussion question and need an explanation to help me study.
7-2 Simulation Discussion: Oligopolies
Starts Jun 12, 2021 11:59 PM
NOTE THAT A CUSTOM RUBRIC IS USED FOR THIS DISCUSSION.An oligopoly is a market structure in which only a few
sellers produce similar or identical products. Oligopolies are
price-setters and can collude to behave like a monopolist.First, play the simulation game Cournot in the MindTap environment.
In this discussion, you will share your experiences playing that game.
Your work in this discussion will directly support your success on the
course project.In your initial post, include the image of your simulation report in your response. See the How to Submit a Simulation Report Image document for more information. Then, address the following questions:What are the main features of an oligopolistic market?
How do oligopolies set their prices?
Explain how you can distinguish a firm in an oligopolistic market from one in a monopolistic competitive market. Provide examples to illustrate.
In your responses, comment on at least two posts
from your peers by providing examples from the news of oligopolistic
markets. Compare and contrast with examples of monopolistic competitive
markets.To access your simulations, click the simulation link found in the module.To complete this assignment, review the Module Seven Simulation Discussion Rubric.