Discussion about Market Structures

Give me one example of one company and how market structure ( monopoly, oligopoly…) has impacted a firm’s strategic behavior.

Short answers

1. Why are the concepts of own and cross-price elasticities of demand essential to

competitor identification and market definition?

2. How would you characterize the nature of competition in the restaurant industry?

Are there submarkets with distinct competitive pressures? Are there important substitutes that constrain pricing? Given these competitive issues, how can a restaurant be profitable?

3 How does industry-level price elasticity of demand shape the opportunities for

making profit in an industry? How does the firm-level price elasticity of demand

shape the opportunities for making profit in an industry?

4. “The only way to succeed in a market with homogeneous products is to produce

more efficiently than most other firms.” Comment. Does this imply that efficiency

is less important in oligopoly and monopoly markets?

5. In what ways are monopolistically competitive markets “monopolistic?” In what

ways are they “competitive?”

Pls write about just one company from our life how market structure monopoly, oligopoly. Pls don’t forget include resources.

Answer preview:

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