In this section of the paper, you will describe what market structure/industry (perfect competition, monopoly, oligopoly, or monopolistic competition) the product/service or firm that you analyzed in your market analysis paper would most likely fall under. You will argue for why you chose this market structure by using the assumptions that we learned for each type of industry. Then explain how the firm or firms of the product/service that you analyzed would behave in this market structure.
Here are some of the questions you should be answering. How competitive is the market for firms that produce this type of product or service? Can you find the HHI or concentration ratio for the industry? Are there many close substitutes for this product or service? Is there complete information in the market? If there are barriers in this industry, what may they be? Do firms producing these products/services face their own part of the market demand? How do they choose quantity? How do they choose price? What may be some examples of firms producing these types of products or services? If there is competition, how do the firms act?
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