Describe these firms as well as the products produced by these firms and how they compete with other firms producing the same or similar goods.
Reading, writing and research – Essay 2
Watch the following Khan Academy videos on market structures.
https://www.khanacademy.org/economics-finance-domain/microeconomics/perfect-competition-topic/monopolistic-competition-oligop/v/monopolistic-competition-and-economic-profit
https://www.khanacademy.org/economics-finance-domain/microeconomics/perfect-competition-topic/monopolistic-competition-oligop/v/oligopolies-and-monopolisitc-competition
Watch the following Economics USA video on market structures.
http://www.learner.org/series/econusa/unit07/
Use the readings, as well as information from Chapters 13-17 (Mankiw, N. Gregory. Principles of Microeconomics, Cengage Learning. 7th edition. 2015 )to respond to the following.
The Grand Traverse Pie Company is a local Terre Haute deli and pie shop located just off campus. Brazilian owned CSN is a steel factory just south of Terre Haute. Time Warner Cable is the Terre Haute cable TV company.
Describe these firms as well as the products produced by these firms and how they compete with other firms producing the same or similar goods. In your description, include in discussion about the type of profit the firm can earn because of this competition. Use examples.
