Consider an example of a firm or firms that, in your experience or to your knowledge, has/have clearly established significant power within a market.
• Describe this firm and identify characteristics of which of the four market types the firm functions within and why you believe this firm’s market can be characterized as the type of market you describe.
• Determine whether product variation exists in this market and how this weakens the power of firms in the market to act as price makers.
• Explain whether the firm or firms you describe abuse or do not abuse their power and the impact of this behavior on consumers and whether you would advocate for increased governmental oversight of such industries, and why.
• Posts must be respectful and substantial (at least 250 words). All posts must conform to college-level writing conventions with correct grammar and spelling as well precise word choice and vocabulary.
• It is required that you integrate the reading or viewing materials into some of your posts, providing in-text citations and a reference list for the materials you reviewed. Make sure to validate your answer with required readings. You may also use other sources to strengthen your answer.For more information on types the firm functions check on this:https://en.wikipedia.org/wiki/Market_structure
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