Microeconomic Analysis of an Individual Firm or an Industry Determine the market structure of a firm 1 answer below »

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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.

Examples:

The oil industry

The airline industry

Apple, the Iphone product, the smartphone industry

Gucci, the retail clothing industry etc.

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