Nowadays, the mobile communication industry is getting more competitive. The major mobile manufacturers playing the leading roles in the industry are Nokia, Apple, Samsung as well as Motorola. These companies all manufacture mobile phones to their target users.
(a)To what market structure does the mobile phone manufacturing business belong? Give FIVE reasons to support your answer. You are required to list and briefly explain the main features of this type of market structure to support your answer.
(b) Assuming all firms in the industry join together to form a cartel. What will be the kind of market structure developed? With the aid of a diagram and marginal analysis, show how output, price, and profit are determined in this market in the long run.
Economics
2008-11-30 2:24 am
回答 (1)
2008-12-01 7:17 pm
✔ 最佳答案
a)Obligopoly. Products are hetergeneous and there are only a few large sellers in the market. There are certain degree of barriers to enter and leave the market as the new comers must possess the technology and machinery to make mobile phones and if they decide to leave the market, they might incur losses if they sell the machinery immediately. Buyers did not have perfect information about the market.b) Monopoly. MC=MR, but Price is located by finding the level of price on demand curve at that output (Q) level. Profits = (P-MC)*Q.
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