Econ: Graphic Equation Candy Sim


Student Pair Group
A graphic equation will visually demonstrate how the four characteristics of market structure apply to an industry. It should include two graphs and two illustrations. For each characteristic, you will write a one- or two-sentence summary explaining how it uniquely functions in an industry. We used our candy simulation as practice: Hershey Kisses – perfect competition, Dum Dums – monopolistic competition, Laffy Taffy – oligopoly, and Kit Kat – monopoly. Market structure characteristics: number of producers, similarity of products, ease of entry, and control over prices. 


Homework:
7.4 What Is an Oligopoly (read pp.127-130)
7.5 What Is Monopolistic Competition (read pp.130-132)

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