Assignment:
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.