Starbucks Vs. Google Market Structure Essay - 1639 Words

In Economics, we categorize products into four different market structures. Those market structures being, perfect competition, monopolist competition, oligopoly, and monopoly. Every product ever produced comes from one of these four market structures. The one thing that all of these market structures have in common is the profit-maximizing rule. No matter what you product you make, every firm has a desire to produce where marginal revenue from selling the good is equal to the marginal cost of producing the good. Every firm should keep producing as long as the marginal revenue is greater than marginal cost. Once they reach a point where they are equal they should stop producing because that is their profit maximizing quantity. Starbucks and Google are two huge companies that fall into two different types of market structure. In my opinion, Starbucks falls into a monopolistic competition, and Google falls into a monopoly. There are similarities and differences to these two companies a nd to the market structures they fall into. Monopolistic competition is defined as, a market structure in which many firms sell products that are similar but not identical (Econ UIUC). The demand for monopolistically competitive firms is downward sloping. This is because there are free entry and exit within the market structure. Monopolistic competition exists in the short run and in the long run. In the long and short run firms want to produce where their marginal revenue is equal to theirShow MoreRelatedEssay on management2529 Words   |  11 Pagesï » ¿Chapter 10 1. Make a list of Starbucks’ goals. Describe what type of goal each is. Then, describe how that stated goal might affect how the following employees do their jobs: Open 1200 new stores. Revenue growth of 10 to 13 percent. 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