ALLIED ECN150 MODULE 6 HOMEWORK ASSIGNMENT

Homework Assignment IntroductionWelcome to the Module 6 Homework Assignment for ECN 150: Introduction to Microeconomics.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.This assignment requires that you submit a Turnitin Originality Report with your assignment. Please read the .allied.edu/pages/Viewsp.aspx?GroupID=179″>Turnitin.com Instructions on how to use Turnitin.com in order to check your assignment for originality. Your assignment may be returned without a passing grade if you do not include the Turnitin Originality Report along with your assignment submission.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT
TITLE HERE]

[INSERT
TITLE HERE]
Student
Name
Allied
American University

Author
Note
This
paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught
by [INSERT INSTRUCTOR’S NAME].

PART
I

Directions:
Write
a 3 to 4 page APA-formatted paper in which you address the questions
below. Use at least three cited
references that are peer-reviewed sources.
Please utilize LIRN to help you get started with your search. You may visit the Academic Resource Center
for a guide on how to utilize LIRN successfully.

1. Choose
four real-world companies, respectively one for each market structure type –
Perfect Competition, Monopoly, Oligopoly, and Monopolistic Competition.

2. Explain
why the companies fit in the respective categories.

3. Compare
and contrast the four companies with regards to their market structure
characteristics, including, but not limited to: barriers to entry, number of
firms in the market, short-term and long-term profits, price elasticity of demand,
etc.

PART
II

In
addition to the textbook readings, you watched hours of videos from experts in
microeconomic theory at world class institutions. You have also read competing position papers
from three major economists in the world today and Nobel Prize-winning
theorists. Write a three page
APA-formatted paper on the general competing theories between economists in
today’s market as they relate to microeconomic theory. Who are the theorists, what do they posit,
and how do they support their work? Be
sure to use at least four sourced, peer-reviewed, and cited references in your
work.

PART
III: Reflection
Essay

After
watching the video from MIT this unit, write a one page summary about your
primary take-away from Gruber’s video.