For this assignment, I would like you to pick an industry and identify what mark
For this assignment, I would like you to pick an industry and identify what mark
For this assignment, I would like you to pick an industry and identify what market structure it most closely resembles (and why). In class, we looked at the fast food industry and saw that it most closely resembled monopolistic competition, but an argument could be made for oligopoly as well. Do the same analysis, but with an industry of your choice.
Pick an industry. Do not pick a firm!! Pick an industry. Define the market specifically. There are many ways to divide up markets so you must tell me exactly how you are defining your market. What is the product / service? Are you looking at US only or the whole world? Etc.
Find market share data for this industry. Many industries have market share info easily searchable on search engines.
Copy / screenshot the info and include it in your assignment. Include a link to your source.
If you can’t find any good data for your chosen industry, pick a different one with more available data.
Finding market share is central to this assignment. Submissions without market share data will not be considered.
Decide what market structure you think your chosen industry most closely resembles. Choose from the market structures we have discussed. Use the data to argue your case and tell me why. Looking at the four firm concentration ratio and other indicators we have discussed will help you.
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