Choose and research an industry where there has been a pattern of change in a particular market...

Question

Choose and research an industry where there has been a pattern of change in a particular market model (monopoly, oligopoly, etc.).
Write a four to five (4–5) page paper in which you:
Describe the industry and explain the general pattern of change of the particular market model. 
Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a “market economy.” 
Analyze at least three (3) possible areas for the industry that could lead to transaction costs, and explain each in detail. 
Speculate about the behavior that could result from these transactions and propose at least two (2) strategies for dealing with them. 
Collect costs, revenue data, or other data from the industry that you deem relevant. Explain how you would modify the data in order to make it relevant to decisions a manager must make. 
Explain the major factors that affect the degree of competitiveness in your industry. Use the data to develop at least three (3) measures (e.g., productivity measures) to show how the industry is evolving. 
Use at least three (3) high-quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. 
Your assignment must follow these formatting requirements:
Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. 
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. 
The specific course learning outcomes associated with this assignment are:
Apply the concepts of supply and demand to determine the impact of changes in market conditions in the short run and long run and the economic impact on a company’s operations. 
Use short-run and long-run firm production and cost functions to evaluate the impact on industries. 
Analyze how production and cost functions in the short run and long run affect the strategy of individual firms. 
Use technology and information resources to research issues in managerial economics and globalization. 
Write clearly and concisely about managerial economics and globalization using proper writing mechanics.

Robert · Accepted Answer

The IT industry 
Introduction and change from oligopoly to competitive market 
The computer industry or the Information technology industry is a fast growing industry 
with innovations and experiments taking place every single day at a very fast pace. The computer 
industry has several changes happening and is highly dynamic. This industry began with very 
few players and now has several players competing for the same market share, which is also 
expanding. There are firms like Apple that have created a niche for themselves and at the same 
time firms like Dell, IBM and Microsoft cater to the masses. In this way this industry has 
changed from a oligopoly to a perfect competition market model since there are several buyers 
and several consumers with quite a lot of knowledge about products and prices (Kaplan, A. M., 
& Haenlein, M, 2009).  
Description of industry  
The computer industry began with crude devices constructed for the purpose of 
computation and tabulation of large amounts of data. Slowly this revolutionized and reached the 
present era of e commerce where in a virtual market exists and things can be bought and sold at 
the click of a button. The advent of information technology revolutionized the computer industry 
as these were the devices that supported the IT infrastructure and helped convert the world into a 
small village where in people could easily communicate.  
The demand and supply for computers grew tremendously all over the world, especially 
the developed and developing countries in the period between 1995 and 2000. This marked the 
beginning of a digital era where in economies transformed due to computerization and this not 
only helped bring in new forms of business methods but also new businesses.  
The general pattern of change in this market model  
Change occurs in the oligopoly when new firms enter the market and the levels of 
competition increases. This results in higher levels of price based competition, better levels of 
consumer knowledge, higher expectations of service from the consumer, several options for the 
consumer to choose from and an overall increase in the levels of competition. In this way change 
in the oligopoly market model takes place when the number of firms slowly increase and it 
becomes easier for new entrants to come in.

Choose and research an industry where there has been a pattern of change in a particular market model (monopoly, oligopoly, etc.). Write a four to five (4–5) page paper in which you: Describe the...

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