1. ECO 550 Week 4 Assignment 2 Market Model
Patterns of Change
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patterns-of-change/
Economics - General Economics
Choose and research an industry where there has been a pattern of change in a particular market model
(monopoly, oligopoly, etc.). Describe the industry and explain the general pattern of change of the
particular market model. Hypothesize the basic short-run and long-run behaviors of the model in the
industry you have chosen in a “market economy.” Analyze at least three (3) possible areas for the
industry that could lead to transaction costs, and explain each in detail. Speculate about the behavior
that could result from these transactions and propose at least two (2) strategies for dealing with them.
Collect costs, revenue data, or other data from the industry that you deem relevant. Explain how you
would modify the data in order to make it relevant to decisions a manager must make. Explain the
major factors that affect the degree of competitiveness in your industry. Use the data to develop at least
three (3) measures (e.g., productivity measures) to show how the industry is evolving. Use at least three
(3) high-quality academic resources in this assignment. Note: Wikipedia and other Websites do not
qualify as academic resources