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Essay Instructions: ‘Monopoly...is a great enemy to good management.’ Adam Smith, (1776), The Wealth of Nations, Book I, Chapter XI. Discuss.



Guidance notes:



It is best to interpret the question from the viewpoint of an economist employed by one of the competition authorities; i.e. the Office of Fair Trading (OFT) or the Competition Commission. Their task is to ensure that markets work to give the greatest benefits to the community as a whole, i.e. to work ‘in the public interest’.



‘Management’ is therefore ensuring that market structures encourage the highest possible level of allocative and productive efficiency, in both the static and dynamic senses.



* Have a clear essay structure with effective paragraphing.

(Introduction, body and conclusion)

* The essay must not be one-sided; a discussion has more than one point of view;
* Use reasons or arguments for both for and against sides, evidence and examples will be required. (you should compare monopoly with perfect competition and a little bit oligopoly related to monopoly)
* Use models (diagrams) and explain them.
* Have a high standard of referencing throughout the essay;
* Have a reference list (in the order of references in the essay);
* Have a bibliography (in alphabetical order);
* Think carefully about the quality of your sources; e.g. Wikipedia is OK for a bibliography but not for a reference. Ideally, use good quality textbooks by well-known economists; e.g. Mankiw; Krugman; etc.

Please do NOT use website if it is really required use as little as possible.

Essay Instructions: Monopoly
Read Chapter 14
1- What are the legislations and policies that regulate monopolies (NOT natural)? For example (1) Legal Barriers to Entry - This is a situation where a law prevents other firms from entering the market to sell a product, (2) Patents: A patent gives the inventor of a product a monopoly in producing and selling that product for a limited amount of time. Patents are tools that governments use to promote innovation, as companies should be more willing to create new products if they know they'll have monopoly power over those products. (3) Antitrust policy.
2- Identify industries/sectors that are dominated by a monopolist.
3- Select a firm that has a status of monopolist (not natural) and discuss the advantages and disadvantages/inefficiencies related to its status.
4- What kind of market power this firm has?
5- What are the limits to the monopoly power for your case study?
6- Discuss the practices that this firm exercise (example: price discrimination)
7- Explain to what extent the practices of your ?case study? affect the welfare (well being) of consumers.
Discuss what seems to have been going on in the market structure for monopolies over time and how competition and regulations increased/decreased their market power. Use your own evaluation rather than professional analyses.

Essay Instructions: Pick one of the four major market structures and then find an industry that you think illustrates the characteristics of that market structure. Prove your theory using evidence and other sources.

I would pefer to use a Monopoly as the major market structure.

The paper should contain notes of some kind with page numbers indicating the source of the infomation (footnotes, endnotes, parenthetical, etc.)

Essay Instructions: Title:Monopoly...is a great enemy to good management.' Adam Smith,(1776),The Wealth of Nation,Book I,Chapter XI. discuss. bibliogrophy :5books quotes. Relevant example and charts will be hoped to see . Thank You indeed^_^
There are faxes for this order.