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Literature & Language
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Firms in Competitive Markets (Essay Sample)

Instructions:
Review the following questions and prepare a four to five page report on any three of the following issues: 1. Firms in Competitive Markets The official "Incredible Edible Egg" Web Site: Go to: http://www.aeb.org/ (Retrieved May 17, 2010). This website is sponsored by the American Egg Board. Among other things, the site is clearly an advertisement for the egg industry. Have you ever seen or do you expect to see advertising for individual egg producers? What characteristics of the good make the market competitive? 2. Monopoly Microsoft: Go to http://www.debeers.com/ (Retrieved May 17, 2010). Does a monopoly firm produce this product? What characteristics of the good make the market monopolistic? Explain. 3. Monopolistic Competition Luxury Watch Industry: Go to http://images.businessweek.com/ss/06/05/watches/source/1.htm (Retrieved May 17, 2010). This is an interesting article on luxury watches. Click on the slide show in the upper right window (check out the prices!). Are these three firms participating in a monopolistically competitive market? What characteristics of the good make the market monopolistically competitive? Explain. 4. Oligopoly The OPEC Oil Cartel Go to www.opec.org (Retrieved May 17, 2010). What are the organization's stated goals, which countries are members, and when was it founded? Is it normal for them to be successful in keeping oil prices high, or have they faced difficulties in keeping the cartel united in the past? 5. Antitrust Enforcement and the Consumer The following is the to the United States Department of Justice's view of its role in antitrust enforcement. Retrieved May 17, 2010: http://www.usdoj.gov/atr/overview.html. Do you think the U. S. Government is doing enough in this area? Be specific citing examples. Case Assignment Expectations: Use concepts from the modular background readings as well as any good quality resources you can find from the cyberlibrary or other internet search engines. Pleas be sure to cite all sources within the text and provide a reference list at the end of the paper. Length: 4-5 pages double spaced and typed. The following items will be assessed in particular: Your ability to understand the differences between perfect and imperfect competition. Some in-text references to the modular background material (APA formatting not required). The essay should address each element of the assignment. Remember to support your answers with solid references including the case readings. source..
Content:

COMPETITION
Name:
Grade Course:
Tutor’s Name:
(19 October, 2010)
Competition
In the competitive market arena competition is a very sensitive process to most organizations, in economics the term competition is referred to a notion which covers the organization and individual will for striving to attain the market greater share of purchasing or commencing of good and services. This essay shall expound on three firms in competitive markets American Egg Board, Microsoft and Luxury Watch Industry. The essay shall detail the monopolistic aspects of competition within these three organizations.
American Egg Board (AEB)
This is a U.S organization which deals with production of eggs and links the consumers with these products. This organization also advocates the on the nutritional and economical values in the eggs products. This organization regards itself as the promotional arm of the egg industry; also they strive to implement strategies of oriented marketing program which gravitate to achieve success by national marketing initiative (AEB, 2010). There are no individual egg producer’s adverts and because of AEB there cannot arise one. The characteristics of this good is made competitive because of the diverse use, nutriti...
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