Problem
What the Apple-Samsung Verdict Means for Your Smartphone A California jury found Samsung guilty of violating the majority of the patents in question, including software features like double-tap zooming and scrolling. It recommended that Apple be awarded more than $1 billion in damages. This verdict could significantly affect both smartphone users and producers.
a. If Apple became a monopoly in the smartphone market, who would benefit and who would lose?
b. Compared to a smartphone monopoly, who would benefit and who would lose if the smartphone market became perfectly competitive?
c. Explain which market would be efficient: a perfectly competitive one or a monopoly.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.