Paper, Order, or Assignment Requirements
WRITING ASSIGNMENT #2
DUE DATE: TUESDAY, NOVEMBER 25, 2014
This writing assignment is required and will be graded.
You must submit a hard copy of your writing assignment in class on the due date.
Only assignments submitted at the start of class on the due date will be accepted.
To avoid printer problems, you should allow sufficient time in advance of the due date to
print out your assignment.
For the two writing assignments in this course, you will choose an industry to follow
throughout the semester. I encourage you to read a current periodical, which provides
careful industry analyses, on a regular basis throughout the semester. Periodicals that
you might find of particular value include The Economist, The Wall Street Journal, and
The New York Times. There are many other sources of information on current events in
various industries, so please feel free to consult other sources as you prepare this writing
The objective of this second writing assignment is for you to determine whether or not
the industry you are studying is perfectly competitive. Your paper should answer the
following questions pertaining to the product or service provided in this industry and to
the market setting in which firms operate:
• Do a large number of firms compete with each other in this industry? If
not, which firms dominate the industry? Briefly describe a typical firm.
• Does this market serve a large number of consumers or does is serve a
select and small group of consumers? Briefly describe a typical consumer.
• Are the products sold in this industry identical? If the products are not
identical, are they sufficiently similar to be very good substitutes or are
products highly differentiated from each other? Be specific and provide
examples of similarities and differences among the products.
• Is it easy for firms to enter and exit this industry? What is involved in
“opening up shop” in this industry? Discuss any barriers to entry.
• Do producers and consumers have easy access to information on prices in
this industry? Is it easy for buyers and sellers to find one another or is it
costly to the buyers and sellers to make arrangements to exchange the
product or service in this industry?
After you have answered the questions above, provide a summary of whether or not you
think the industry you are studying can be reasonably described as “competitive.”�OURCES OF INFORMATION:
You must use at least three sources for your writing assignment. At the end of your
assignment, you should provide a list of references. This list must provide complete
information on each source of information. For example, if you cite an article from a
newspaper, include: the author’s name (if listed); the article’s title; the name of the
periodical (in italics); the date; and the page number. For a model on citing sources,
please review the References section in the back of the Perloff text. If you cite a web
page, you should include: the full url address; the date you visited the site; and any other
relevant information that would allow the reader to find the source of your information
readily. Be sure to choose web sites that you believe are reliable sources of industry
information. If you wish to quote directly from a source, you must use quotation marks
to indicate that you are doing so and provide the exact reference for the source of the
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