Abstract
This project focuses on the results of a grocery structure simulation and a harvest-time I am familiar with. I am to discuss the advantages and limitations of supply and take away that argon identified. I am then to create a table showing the differences and then I am to discuss a product we are familiar with so I chose the soft make whoopie/cola industry.
Introduction
This project focuses on the market structure of a freight transportation party. They go through several changes for severally of their divisions. Each division represents a different market structure. I will learn about perfect competition, monopoly, monopolistic competition, and oligopoly. The divisions use in the simulation are the Consumer Goods Division, Coal Division, Chemicals Division, and Forest Products Division.
What are the advantages and limitations of supply and demand identified in the simulation?
The company of East-West Freight Transportation consisted of four differnet divisions that represented different market stuctures as shown in the following table. There were advantages to the supply and demand in different scenarios. The coal division was the only car transporter in the region and the chemicals division has a chance for lettuce in the long run. The consumer goods division has no barriers to entry for firms and the set products division has very little to no presence of stinting profits.
Simulation Table
        Example of a firm         Barriers to Entry         Numbers of Firms         legal injury Elasticity of Demand         Presence of Economic Profits                        Â
Perfect rival         Consumer Goods Division         No barriers         Several         Price is elastic         P=MR.
=MC Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Monopoly         Coal Division         Only transporter in region         1         Price is inelastic         Possible is barriers comprise                        Â
Monopolistic Competition         Forest Products Division         Few barriers to entry         many a(prenominal)         Price is elastic         None                        Â
Monopoly/Duopoly         Chemicals Division         Only deuce firms and each reacts...
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