In the following list of markets, discuss which ones would be produced under monopolistic conditions and...

In the following list of markets, discuss which ones would be produced under monopolistic conditions and which ones under an oligopoly. Explain your choices using the characteristics of both markets: (1) Sports Drinks (2) Colleges and Universities (3) Hairdressers (4) Restaurants (5) Hollywood film industry

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In the following list of markets, discuss which ones would be produced under monopolistic conditions and which ones under an oligopoly. Explain your choices using the characteristics of both markets:

(1) Sports Drinks- Oligopoly. Sports drink can differentiate or may have similar products containing energy boosting elements. It is oligopoly as entry is moderately difficult due to a few firms capturing a high market share already. Advertising expenses will be high and price wars are very likely.

(2) Colleges and Universities- Oligopolistic competition: Each college or university have to adhere set syllabus or can design own coursework. Unless a certain academic criteria is met new entry is not possible, Product will be similar or differentiated. However, a certain assessment patterns will be same as per set standards. Competition to get new admissions is higher.

(3) Hairdressers - Monopolistic- Many small service providers exist. Entry is easy. However service experience can be differentiated.

(4) Restaurants- Monopolistic competition- Easy entry and exit. Differentiated product and service design.

(5) Hollywood film industry - Oligopoly- Dominated by a few firm. entry is difficult as capita required is high. Movies are based on differentiated story line plots.

Rahul Sunny answered 10 months ago

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