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Economics
Week 4 Individual Assignment Market Structure

Microeconomics 365 Week 4 Individual Assignment Market Structure Perfect competition Monopoly Monopolistic competition Oligopoly
Example organization Grocery Stores (Piggly Wiggly)

Alliant Energy Under Armor Ford Motor Company
Goods or services produced by the organization Sells food and other house hold necessities

Electric Power company Sporting Goods (clothing) Automobiles
Barriers to entry Very low

High Moderate High

Number of organizations Many competitors Thousands

Single Many competitors Few 3 or 4 major competitors
Price elasticity of demand Inelastic demand curve will be less than 1

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

Is there a presence of economic profits? No Yes Yes Yes

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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