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ECO 101 · Unit 4 of 6

Market Structures

Microeconomics and Competitive Markets

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Learning objectives

After completing this unit, you will be able to:

  • to business decisions
  • Apply the frameworks in "Market Structures" to a real management decision
  • Make progress on your Microeconomics and Competitive Markets executive memo applied project

Why this matters

Market Structures is essential to Microeconomics and Competitive Markets. Lessons build fluency with anchor-company examples, worked problems, and assessments on the unit page.

Lesson

Unit overview

Complete all 5 lessons in order. Each lesson follows the program authoring standard: conceptual prose, worked examples, practice problems, and managerial judgment prompts. Finish unit exercises and the knowledge check before marking the unit complete.

Connection to applied work

This unit feeds directly into Microeconomics and Competitive Markets executive memo. As you read, capture notes, examples, and data you can reuse in that deliverable. Strong students finish each unit with a draft section of their project, not just highlights.

Practice

  1. Write a one-page summary of this unit in your own words without looking at the lesson.
  2. Find a real company example (public filing, news article, or personal experience) that illustrates the main concept.
  3. Draft one paragraph recommending an action a manager should take based on this unit.
  4. Add at least three terms from this unit to your course glossary.

Knowledge check

Answer these without notes before marking the unit complete:

  1. What is the central idea of "Market Structures"?
  2. What mistake do beginners most often make when applying this material?
  3. How does this unit help you complete Microeconomics and Competitive Markets executive memo?
  4. What is one decision you face this month where this unit applies?

Key takeaways

  • to business decisions
  • Business concepts only matter when they change a decision.
  • Your ECO 101 assessment (Demand, supply, elasticity, market structure, and strategic microeconomic reasoning.) rewards applied understanding, not memorization.

Unit assessment

Complete each section below. Score 80%+ on the quiz to finish this unit's assessment.

40% applied project35% knowledge checks25% reflections

Exercises

Apply what you learned in this unit with structured practice.

ExerciseApplied practice: Market Structures45 min
Complete a focused practice exercise on **Market Structures**. 1. Choose a real company, product, or situation you know. 2. Apply one core framework from this unit to analyze it. 3. Write your analysis in 300–500 words with a clear recommendation. 4. Cite at least one credible source.

Deliverable

300–500 word analysis document saved to your portfolio under ECO 101.

Rubric

  • • Framework applied correctly (not just named)
  • • Specific evidence from a real example
  • • Clear recommendation with tradeoffs acknowledged
  • • Professional writing with source citation
ExerciseDrill: Market Structures30 min
Work through the practice problems in the unit lesson without looking at notes. Then check your work against the lesson and write a short reflection: - What you got right - One mistake you caught - One concept to review before the next unit

Deliverable

Problem solutions + 150-word reflection in your ECO 101 workbook.

Rubric

  • • Attempted all practice items before checking answers
  • • Honest reflection on errors
  • • Identifies a specific review action

Case analysis

Analyze a case using frameworks from this unit.

CaseCase analysis: Market Structures60 min
Analyze a real business case through the lens of **Market Structures**. Choose a public company event, HBR-style case, or documented decision. **Deliverable structure:** 1. Situation summary (150 words) 2. Analysis using this unit's frameworks (400 words) 3. Recommendation (150 words) 4. Risks and what would change your mind

Deliverable

2-page case write-up in your portfolio.

Rubric

  • • Case facts are accurate and sourced
  • • Analysis uses unit frameworks explicitly
  • • Recommendation is justified with tradeoffs
  • • Risks are specific, not generic

Knowledge quiz

Check your understanding before marking the unit complete.

1. In wholesale energy markets, some generators are price takers. ClearPeak's regulated retail service resembles which competitive benchmark concept?

2. Rooftop installers argue ClearPeak exercises market power in retail energy. Regulators allow cost-of-service recovery. Which market structure label fits regulated distribution service best?

3. ClearPeak offers green power riders, budget billing, and home energy reports. Competitors offer similar bundles. Which structure description fits?

4. Two neighboring utilities match each other's time-of-use discounts within a quarter after ClearPeak launches a pilot. Which oligopoly idea is illustrated?

5. Rooftop solar entry is easier than building new transmission. Yet sunk grid investments and interconnection rules slow bypass. Contestability at ClearPeak depends most on:

6. If retail price is held below marginal cost during peak, what surplus outcome is most likely?

7. With residential elasticity −0.35 (inelastic), ClearPeak cuts average rates 1%. Approximate net percent change in energy revenue short run?

8. Elena testifies that marginal cost pricing on peak hours improves efficiency but raises bills for heat-vulnerable customers. What integration point is she making?

Next unit: Strategic Economics →