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We have now explored a number of economic models that help to explain how markets work. We described perfect competition as a theoretical model of market efficiency in which no individual has complete market power, and we described several situations in which some market power exists in the hands of the producer, the purchaser, or both.
For this assignment, you are required to write a paper analyzing and providing evidence of the market power and market efficiencies that exist in one of the industries described in the linked instructions. You will begin by describing the market structure of the industry, will then identify any market efficiencies or inefficiencies that may exist, and will conclude with possible ways in which the market you have chosen could be made more efficient.
Access the ECON200 Required Assessment – Written Paper document (ATTACHED) for additional details/requirements. If you have any questions, please post to the Help Desk or reach out directly to your instructor.
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