Competitive Markets and Monopolies

  Using the concepts from Greenlaw and Shapiro (2017) Chapters Eight and Nine, analyze the changes of your business/economic decisions if the market changed to a perfect competitive market. Then do the same if your market changed to a monopoly. You will provide your senior manager a one to two page report about these changes. If your company, product or service already is within a monopoly or perfect competitive market, take the view that you are not originally in that market. Make sure to use in-text citations of scholarly sources to support your ideas. Use the following steps to complete your analysis: First briefly introduce your product or service’s market structure. Describe what makes a perfect competitive market. Analyze how changing to a perfect competitive market would change your economic/business decisions. Describe what makes a monopoly market. Analyze how changing to a monopoly market would change your economic/business decisions. Describe how regulators could affect your monopoly market. Conclude with a summary of your analysis. Include a reference page. Three scholarly sources (your textbook can be used as one) should be used.