Research essay (a) Identify the key characteristic of four market structures (ie. monopoly, oligopoly, perfect competition or monopolistic competition). Give a case study example of each market structure. comparison with graphical presentation. draw graphs manually, scan and use reference. In oligopoly do king demand curve, prison and game theory. (8 marks) (b) Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe any two ways to correct the negative externalities and the pros and cons of each method. Provide real life examples. draw graphs, explan positive externalities in short and negative in depth. cover page and table content also use.(8 marks) (c) Choose a case study from your home country (Australia or any country) where an externality exists in a current market. Illustrate the situation with externalities in your case study and the resulting deadweight loss in a diagram and discuss ways that your government has addressed the presence of negative externalities in the market. (10 marks) Additional marks (4 marks) Overall presentation of work, especially use of graphs, clear written expression. 2 mark Appropriate use of referencing. 2 marks Assessment criteria •Besides the textbook, you should also refer to a few other academic books, journal articles and relevant websites in answering these questions. •Sources must be acknowledged and a list of references provided. •All submissions for this course must use the American Psychological Association (APA) referencing style (details can be obtained here). •Concepts must be defined accurately and completely. •The assumptions upon which the analysis is based must be stated at the onset. •Diagrams must be drawn properly, correctly labelled and the relations they depict explained. •Photocopied and scanned graphs from books, articles or websites are not acceptable. It is preferable to hand-draw a graph then scan it to insert in your file. •Answers must be complete, addressing the specific tasks nominated in the questions.

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