Scenario Firms Type of Product Market Model in a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors' Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, If ever The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug Scenario Firms In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors'. Many Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery Few One In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, if ever. The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug. tajor metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel Its coffee tastes better than its competitors'. - Identical Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery Unique Differentiated In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage in a price war with the existing companies and would be unlikely to cover its costs for years, if ever. The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug Scenario х Firms Type of Product Market Model In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors' Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery Perfect Competition In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost everyone in the city already has broadband, so any potential new company would have to engage In a price war with the existing companies and would be unlikely to cover its costs for years, if ever. Oligopoly Monopolistic Competition Monopoly The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug
