Would the technology industry work as a monopoly?

Posted: March 4, 2014 by Areeb Fazli in Technology

Dina Bona

I am going to procrastinate further on my economics homework by talking a bit about economics. For those of you who don’t know, a monopoly is not only a game which ruins families, it’s also a game which ruins the chance for others to compete. Basically, it’s when one firm has pretty much all the power for a certain market. Similarly there are oligopoly market structures, which is when a bunch of firms take over one industry. A beautiful example of this is the tech industry, run by the tech giants Apple and Microsoft just to name a few. 

The tech industry has a lot of barriers to entry. These are just factors which make it for difficult for other companies to join the big guys. For one, the tech market relies on costumer loyalty. Apple is a golden example of this, many Starbucks hating hipsters love apple products and would…

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