lp Economics homework help
lp Economics homework help. Review the two groups of firms below:
Group 1: the accommodations industry (e.g. HIlton, Marriott Bonvoy, InterContintental Hotel Group).
Group 2: the wireless telecommunications industry (e.g. Verizon, AT&T, T-Mobile).
Address the following:
Which of these groups operates in a monopolistic competitive industry? Which operates in an oligopoly?
How did you determine the classification of each group? That is, what are the key characteristics of each group that indicate the type of industry it operates in?
Choose one of the groups and use Porter’s Five Forces to analyze the pressures on profits for your chosen group’s firms investor page. If you want to dig deeper into how one of the firms views the challenges it faces, you might want to look at the firm’s investor page.
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