Economics

Topics: Monopoly, Perfect competition, Competition Pages: 4 (1263 words) Published: April 21, 2013
Week 4 Individual Assignment Market Structure

Microeconomics 365

Week 4 Individual Assignment Market Structure
Perfect competitionMonopolyMonopolistic competitionOligopoly Example organizationGrocery Stores (Piggly Wiggly)

Alliant EnergyUnder ArmorFord Motor Company
Goods or services produced by the organizationSells food and other house hold necessities

Electric Power companySporting Goods (clothing)Automobiles Barriers to entryVery low

HighModerateHigh

Number of organizationsMany competitors Thousands

SingleMany competitorsFew 3 or 4 major competitors
Price elasticity of demandInelastic demand curve will be less than 1

Inelastic demand curve will be less than 1Elastic demand curve will be greater than 1Elastic demand curve or Kinked demand curve will be greater than 1

Is there a presence of economic profits?NoYesYesYes

Introduction:
Printing is one of the most highly competitive industries in America today there are literally thousands of printers in the United States, they range from a small mom and pop operation to multinational multibillion-dollar businesses. In this paper, we will be discussing Quad/Graphics market structure. We will also discuss how Quad/Graphics has managed to succeed while competing in an extremely competitive, price sensitive business climate that is rapidly changing every day.

Monopolistic Competition:
Quad/Graphics was founded in 1971 by Harry V. Quadracci. Quad/Graphics is the second largest printing company in North America with yearly sales of $4.1 billion (Quad/Graphics, 2013) Quad/Graphics primary competitor is RR Donnelly & Sons which is roughly double the size of Quad/Graphics. Quad/Graphics and RR Donnelly make up the companies with the largest percentage of the printing market with the remaining market share divided among 35,000 printers of various sizes. Quad/Graphics operates in a perfect competition market structure. There...

References: Colander, D. (2010). Economics (8th ed.). Boston, MA.: McGraw-Hill/Irwin.
Graphics, Q. (2013). Quad Graphics. Retrieved March 10, 2013, from Quad Graphics.com: http://www.qg.com/
Company, F. M. (2012, August 24). Ford Online. Retrieved March 14, 2013, from Ford Motor company http://www.at.ford.com/news/cn/Pages/Chief%20Economist%20Discusses%20Financial%20Sector%20Challenges%20Impact%20on%20Ford.aspx
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