Microeconomic Analysis of an Individual Firm or an Industry
Determine the market structure of a firm or an industry of your choice using the following criteria:
Briefly describe the industry or the firm producing the chosen product
Number of firms (Not necessarily the actual number of firms – determine if there are many firms, one dominating firm or a few dominating firms in the industry)
Product – standardized (homogeneous) or differentiated
Barriers to entry
Competitors and the market shares of the firms in the industry
Market power – ability to determine the price
Independence / interdependence of firms
Four firms concentration ratio
The HHI Index
Organization, in text citations, references. Please use the APA or the MLA format.
The oil industry
The airline industry
Apple, the Iphone product, the smartphone industry
Gucci, the retail clothing industry etc.