1) Describe whether the goods or services produced and sold in this market are homogeneous or...

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1) Describe whether the goods or services produced and sold in this market are "homogeneous" or "differentiated." 2) Explain what the barriers to entry are that prevent large numbers of firms from entering the market. 3) Guesstimate or research what the four firm concentration ratio is and/or the Herfindahl- Hirschman Index. 4) Describe whether firms are very competitive or implicitly collusive. Comment on whether any of the following strategic interactions are taking place in this industry: a) kinked demand curve; b) price leadership; c) competition by advertising; d) competition by innovation; e) bundling; f) price competition; g) active merger & acquisition behavior; or h) investing to exploit network effects. 5) Do you think the firms in this oligopoly are earning "economic profits" or just their "normal rate of return"? 1) Describe whether the goods or services produced and sold in this market are "homogeneous" or "differentiated." 2) Explain what the barriers to entry are that prevent large numbers of firms from entering the market. 3) Guesstimate or research what the four firm concentration ratio is and/or the Herfindahl- Hirschman Index. 4) Describe whether firms are very competitive or implicitly collusive. Comment on whether any of the following strategic interactions are taking place in this industry: a) kinked demand curve; b) price leadership; c) competition by advertising; d) competition by innovation; e) bundling; f) price competition; g) active merger & acquisition behavior; or h) investing to exploit network effects. 5) Do you think the firms in this oligopoly are earning "economic profits" or just their "normal rate of return"?

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Market structures matter as then only the consumers can plan their expenditurescan expect variety of ... View the full answer