ETPA Assessment. Write a 2000 word essay in response to the questions below. Oligopoly Market Structures 1.Outline the keys assumptions and parameters of the oligopoly model. (10% of the marks). 2.(a) Select one industry which is an example of an oligopoly market structure. Provide relevant details of this market including the Herfindahl – Hirschman Index. b)Construct the oligopoly model and select one company to study. Place details on your model including the possible output level and an indication of current profits. (30% of the marks) 3. What possibilities and strategies does your model predict for the short- and long-run outcomes for this firm and for this industry? (30% of the marks). 4. Economic models have uses and limitations. (a)Describe two theoretical weaknesses of the oligopoly model. (b)Describe two areas in reality where the industry you have studied is different to the economic model you have used above. (30% of the marks) References http://www.investopedia.com/ask/answers/121514/what-are-some-current-examples-oligopolies.asp http://www.economicsonline.co.uk/Business_economics/Oligopoly.html http://www.nytimes.com/2010/05/05/business/05airfight.html?ref=business&_r=0 http://www.bized.co.uk/educators/16-19/economics/firms/activity/structure.htm http://www.economicshelp.org/blog/11947/economics/market-share-in-uk-supermarkets/ http://www.academia.edu/5626119/Tesco_Losing_Ground_In_The_UK_Case_Analysis https://mostlyeconomics.wordpress.com/2011/06/16/what-are-economic-models/ http://www.tutorsonnet.com/uses-and-limitations-of-economic-models-homework-help.php
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