Managerial Economics Case Study 2

You are required to read carefully the attached case “MAKS Services Limited” That is posted on the LMS. Assessment Requirement: 1. Explain the importance and various types of “Imperfect Competition” to businesses, and discuss the factors responsible for the creation of market structures. 2. Using the case-let facts, analyse the cost, revenue and profit relationships under a monopoly, and assess the profit maximizing behaviour of a monopolist. 3. Sketch MAKS Services Limited’s TR, MR, ATC, TC and MC on a graph, and highlight the firm’s profit or loss under the condition of imperfect competition. Word Count – 2000 Words. Submission Date: July 19, 2020. Your Terms of Reference: As a GUIDE ONLY, this section outlines some of the aspects you may consider significant given the brief shown above. Your report should include: I. Executive Summary II. Introduction on the economic environment where MAKS SERVICES Ltd. belongs to. III. Body of proposal including definition of key terms (with citation) and relevance to the company. IV. Address the theory of cost that will help the company in taking effective decisions and innovative solutions using incomplete data. V. Conclusion VI. References.