1. An Ugly Picture - The Digital Camera Oligopoly
Undeniably, photography has become an integral part of modern life. ... Furthermore, as the incumbent firms are also extremely large, they usually tend to enjoy significant economies of scale which would have been impossible to achieve under conditions of perfect competition. ... Finally, buyers in this industry also face high switching costs, which could have been avoided had the industry it followed a perfect competition model. ... It is worth noting here that these investments would probably have been unfeasible in the small firms which would have existed under the perfect competition model...
- Word Count: 1435
- Approx Pages: 6
- Has Bibliography
- Grade Level: Graduate