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