choose a real world industry (for example, the auto industry as opposed to a company such...

choose a real world industry (for example, the auto industry as opposed to a company such as Ford) and determine which of the four market structures (perfect competition, monopolistic competition, oligopoly, or monopoly) this industry is most closely related to. Be sure to support your answer by referring to the characteristics that define each market structure.

Expert Solution

Computer operating system industry

It's an example of oligopolistic industry. Following are the reasons.

* Oligopoly is characterized by the existence and dominance of a few sellers.

Computer operating system industry don't have so many sellers. Apple ,windows and Linux are the major sellers.

* Competition between the sellers

Oligopoly is also characterised by tough competition between the sellers. Windows and apple have a cutthroat competition going on between them.

* Existence of some Barriers to entry.

Production and marketing of operating system involves huge costs which acts as barriers to entry.

* Pricing policy.

Firms in an oligopoly consider the reaction of rivals while setting the prices. They have some control over the price.

When windows or apple launch a new operating system, price is set by them . It's not too high as in the case of a monopoly and not equal to marginal cost as in the case of perfect competition.

Rahul Sunny answered 2 years ago

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Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. What characteristics of the industry make it a monopoly? What is the impact of the monopoly power on its customers? Why might government want to regulate natural monopolies? How might such regulation be structured? 0

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choose a real world industry (for example, the auto industry as opposed to a company such...

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