Monopolies

Aspirin

The drug industry is not perfectly competitive in regard to aspirin. While entry and exit of market is free, most of the market is owned by Chinese manufacturers (Nytimes.com Para. 4). The Chinese manufacturers are able to manufacture at a lower cost hence taking a bigger market share. Initially, the market was a monopoly with all production being done by Bayer. The product is standardized and all manufacturers are able to meet the needs of their customers with their products. The market is also free to enter and exit.

Alicia Keys concerts

Alicia Keys Concerts can only be made with the presence of Alicia Keys. Alicia Keys is the only person who chooses the cost of providing her shows. Entry and exit is impossible in this market. She therefore owns the entire market share of those people who love her shows. There are substitutes of her shows in the form of other musicians, her music which are available on CDs and online as well as radio stations. Radio DJs can also use her music freely.

SUVs

SUVs are produced by many manufacturers. There is free entry and exit in the industry. Competition is based on the ability of manufacturers to produce quality vehicles. Marketing also plays a part. Major manufacturers take an almost equal share of the market each. There is no standardization of products. Instead, every company strives to make a superior product.

Monopoly

Luxottica has over 7000 stores worldwide. It deals with eye glasses and accessories. The company is directly involved with the production of over 80 % of the world’s eyewear (Davis et al. 5). The fact that the company commands such a wide market enables it to control the price of eyewear.

Works Cited

Davis, Matt et al. ‘6 Enormous Monopolies, Past And Present’. TheRichest. N.p., 2014. Web. 1 Nov. 2014.

Nytimes.com,. ‘The Safety Gap – Can The F.D.A. Ever Hope To Police Chinese Meds? – Nytimes.Com’. N.p., 2014. Web. 1 Nov. 2014.