Differentiating Between Market Structure Table and Paper

Differentiating Between Market Structure Table and Paper Genise Suda, Shawanna Baker, Terry Miller Eco/212 November, 5 2012 Torshana Towles Introduction Throughout this paper we are going to discuss and explain many different economic subject matters. First we will compare and contrast public goods, private goods, common resources, and natural monopolies. This will be†¦show more content†¦So any shift in the supply or demand line can affect where the equilibrium is in the labor market. We can look at things that first could cause the supply line to increase which would make the line on the graph sway to the right. Some of the causes for this to increase is that wages go up, causing more people to want to enter the workforce, the population increases, or more homemakers want to enter the workforce. Things that could make the supply line decrease, making the line sway to the left are: emigration, wages go down, more people wanting to become homemakers, or a rise in people collecting welfare. When the demand costs of materials go up and productivity goes down, costs of labor goes down. We will now look into an organization and put all the things that have been discussed into perspective. The organization that has been chosen is Fantastic Sam’s. This organization is a hair salon and would be consider perfect competition. The reason for this is because there are many hair salons that they can compete with for business. If they can keep prices lower than their competitors, then this will help them make more customers, and ultimately a higher profitability. Since the company pays employees on commission, the stylists that work for them will want to serve more customers during their shifts. More customers for the stylists means more money for the salon. They are a large company so they will have power to make contracts with hairShow MoreRelatedElastic Paper1744 Words   |  7 PagesDifferentiating Between Market Structures Angela Graham ECO/365 January 6, 2015 Biagio Vultaggio Differentiating Between Market Structures The hospitality industry has always been above and beyond for excellence. In today’s hospitality industry, the competitive structure is not so much aggressive but more unique with tactics. Every company tries to one up the next person by using creative approaches to intrigue each consumer when they are on vacation. 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