wk 5 econ 101 / 2 dq’s /

Week 5 discussion 1

“Monopoly”

Please respond to the following:

• Discuss the strategies and actions (either legal or illegal) a firm could employ to monopolize the market for a good or service. Explain why this would be so drawing on the concepts discussed in Chapter 9.
Discuss a best practice that would apply to a monopolist in any market. Explain why you support it as a best practice.

Week 5 discussion 2

“Monopolistic Competition and Oligopoly”

Please respond to the following:

• Discuss the single biggest competitive advantage a firm in such a market could have. Explain your rationale.
Discuss the likely economic outcome if all markets were oligopolistic. Provide specific examples to support your response.

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