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Essay / Research Paper Abstract
This 3 page paper considers how the supply and demand influence an industry that has a monopolistic structure. As an example the paper uses the cable industry and examines how supply and demand interact and the impact of the lifecycle. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TESDmonop.rtf
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Unformatted sample text from the term paper:
structure which can range from monopoly to pure competition. Monopolistic competition is the stage between oligopoly, where the market place is controlled by only a few companies or only a
few companies control the market, and pure competition where there is free competition and few barriers. In this there are a large
number of firms competing, but it will be a complex market place. In this model the products might not be completely comparable, there will be differentiation, as seen with cable
companies market (Thompson, 1998). This occurs as more companies enter, and need to differentiate themselves. This makes the comparison of the different offerings difficult to compare.
Here there may be some controls over price and the restrictions, but they are low, in combination with this there are also entry and exist
costs, but again they are also relatively low (Thompson, 1998). There will also be ways of competition attempting to compete on a non cost basis, by using the perception
of the customer and possibly emphasising any differentiation. Supply and demand is a very important element in this market. There is a demand and this may increase and decrease in
line with many factors, such as the level of disposable income. Cable services may be seen by some as elastic and others as inelastic dependant on their position. However,
due to the use of longer term contracts when there is a dip in demand this dip is constrained. The ability to supply the market is limited, as to
enter the market there is the requirement to obtain a licence and also to access the area with the cables. This means where there is a demand the customers will
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