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Chapter 9 - Market Structures Worksheet

This document contains a worksheet with questions about market structures and concepts such as monopoly, antitrust law, economies of scale, and different types of mergers. It asks the student to identify the four types of market structures, what antitrust law prohibits, why economies of scale justifies natural monopolies, characteristics of perfectly competitive and monopolistic markets, what price ceilings are, and examples of different types of monopolies and mergers.

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Terry Cue
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269 views2 pages

Chapter 9 - Market Structures Worksheet

This document contains a worksheet with questions about market structures and concepts such as monopoly, antitrust law, economies of scale, and different types of mergers. It asks the student to identify the four types of market structures, what antitrust law prohibits, why economies of scale justifies natural monopolies, characteristics of perfectly competitive and monopolistic markets, what price ceilings are, and examples of different types of monopolies and mergers.

Uploaded by

Terry Cue
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Name _________________________________ Hour _______ Date _________________

CHAPTER 9 - MARKET STRUCTURES WORKSHEET

1) List the four different types of market structures.

a)

b)

c)

d)

2) What does antitrust law prohibit?

3) Economies of Scale is the concept that larger companies can produce products at
lower costs per unit than small companies. Explain why this is used to justify natural
monopolies.

4) Give two characteristics of a perfectly competitive market.

5) Give two characteristics of a monopolistic market.

6) Price ceilings are…

7) In which of the four markets would consumers need the protection offered by price
ceilings? Explain your thinking.

8) Electric providers like DTE are an example of what type of monopoly?

9) Microsoft Windows at one time would have been considered this type of monopoly?
10) The United States Postal Service is this type of monopoly?

11) _____________________ is when a group of firms work together and essentially


create a monopoly in order to increase prices and their profits. This is a concern
particularly in ___________________ market structures.

12) What is an example of a perfectly competitive market?

13) What type of demand (elastic or inelastic) do you think you would find in a perfectly
competitive market (for each firm, not each product)? Why do you think this is true?

14) What type of demand (elastic or inelastic) would you expect to find with a
monopoly? Explain.

15A) In what two market structures would you be most likely to find product
differentiation?

15B) Why would you not find product differentiation in the other two markets not listed
in the previous question?

16) In what two market structures would brand loyalty be most important? Also,
explain why it is NOT important to the other two market structures.

17) Why do you think companies that have a monopoly are often less efficient than
companies where there is competition?

18) If Kayla’s Steakhouse merged with Bri’s Burgers and Steaks what type of merger
would this be?

19) If Boeing (they make planes) and Delta Airlines were to merge, what type of merger
would it be?

20) If The North Face merged with Apple what type of merger would it be?

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