Discussion 3

Running head : EconomicsDiscussion 3NameUniversityCourseTutorDate :Discussion 3CompetitionIn analyzing various types of com petitions , let us take for instance a steady dealing in personal computers . In a perfect contest , this firm would be subjected to high level of competition from other players a fact that would lead it to becoming more innovative in to arrive at a competitive end and pull ahead customers . In monopoly and monopolistic competition , the firm would have the immunity of charging any monetary value since it has a significant control of the market the consumers have no choice but consume the computers it is crack the market at whatever price In duopoly , the competition is still low and a slight diversification of the crossway can make it have a lead in market .

For a consumer , a perfect competition is truly beneficial as the competition may lead to price reductions as the firms try to win more customers from others (Medley 2004 . In admittance to price wars for market share , firms tend to ventures into production of discover part products all for the benefit of the consumerGross home(prenominal) productThe gross domestic product (GDP ) does non put into consideration on the quality improvements and inclusion of new products , it understates the true economic growth since it does not adjust for the quality improvements of new products for example computers in the circulating(prenominal) world are less expensive than the way they were in the past , they have been invented in a...If you want to get a full essay, order it on our website: Orderessay

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