INDUSTRY STRUCTURE

Choose an industry for this assignment. You cannot choose an industry that is a monopoly. For the industry you have chosen, explain the following items:

Which industry structure (perfect competition, monopolistic competition, oligopoly with standardized product, or oligopoly with differentiated product) best describes this industry? Provide evidence to support your choice.

What is the nature of competition in this industry? In other words, how do the various firms in the industry compete for customers?

Is this industry growing or on the decline? Provide evidence to support your choice.

Does this industry have a center/periphery structure? If so, what are some of the firms in the center and what are a couple of firms in the periphery?

What are some of the biggest challenges facing this industry? Again, provide evidence.

What are some of the opportunities for future growth for this industry? Provide evidence.