NU Principles of Microeconomics Market Structures & Competitive Firms Discussion

All entries need to meet the criteria of being content driven, complete, considerate, and 1 idea/1 paragraph:

1. Content Driven – this requirement means that the student actively thinks about the question or position stated and adds value to the discussion. Comments such as “I agree” or “That’s right” are not content driven and will not count as valid entries.
2. Short but Complete – Limit your posts to 1-2 paragraphs. However, thoughts need to be fully developed to ensure that when other students and the instructor read the comments they are cogent and coherent. This also means that the entries need to be written in proper business communications format.
3. Considerate – The comments are academic discussions not personal attacks. While you are certainly encouraged to express positions that disagree with other’s thinking, your thoughts must be presented as academic alternative positions with justification and examples to support your alternative position. I will indicate to the entire class what comments are personal attacks and these comments will not count as valid entries.
4. 1 idea/1 paragraph – The entire paragraph should present ONE single idea. If you have other idea, that should go in a separate paragraph. Within a paragraph, the 1st sentence reflects the most important message. Following sentences support the idea mentioned in the 1st sentence. The last sentence concludes the idea.
   1. Question:
      1. Many economists believe the strict definition of perfect competition does not exist in the real world. Yet, the market equilibrium in this market is claimed to be efficient, and all other markets (monopoly, oligopoly and monopolistic competition) that are more realistic, are evaluated in terms of their distance from the equilibrium in a perfect competitive market. Would you be in favor of having only very competitive firms in your town? Try to explain the pros and cons of it with examples.