ECON 210 ERAU Apple Inc and the United States Smartphone Market Essay

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Economics

ECON 210

Embry Riddle Aeronautical University

ECON

Description

In our session this module week we've been discussing the differences between micro and macroeconomics. Hopefully, you've learned a lot from our deep dive into the Circular Flow Model. Let's put what we're learning to the test! In this assignment, prepare a short essay that distinguishes the role of firms in our macroeconomy.

In your essay, identify the following:

  • Choose a real-life example of an oligopolistic market structure in the U.S.
  • Identify how your firm has been impacted by our macroeconomy.
  • Determine if your firm was dependent on the federal government for a bailout and/or restructuring.
  • Describe the factors your chosen firm has taken to avoid market failure at a macro-level.
  • Examine how your chosen firm affects our macroeconomy with regard to economic output.

Your essay must be supported by a minimum of three sources, be in current APA format, and be at least 500 words in length. Here are the required pages:

  • Title page
  • Introduction
  • Body of the paper
  • Conclusion
  • Reference page

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Explanation & Answer

View attached explanation and answer. Let me know if you have any questions.Hi, I finished. Please check my work and contact me if you have any doubts. Bye

Apple, Inc., and the U.S. Smartphone Market

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Introduction
The U.S. smartphone market is currently dominated by four major brands with
Apple at the top with its iPhone, Samsung, LG, and Lenovo. LG will stop manufacturing
cellphones on July 21, so the market will be divided among these three key players. This
market is clearly an oligopoly, although some argue that Apple’s dominance is so large that
it could be considered a monopoly. Whether the market becomes a monopoly or continues
to be an oligopoly will be known once LG stops selling its cellphones, and depending on
which company can absorb their market share. Apple’s market share in the United States
was 65% during the last quarter of 2020, so even a small increase could actually transform
the market into a monopoly.

Share of U.S. smartphone market by brands. Elaborated by Statista.com

Apple’s Growing Market Share
Apple has been the market leader for more than a decade now and its dominance
has increased over the past five years. Samsung is the number two brand in the US, but the
difference with A...


Anonymous
Very useful material for studying!

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