For each scenario below identify:
1. Number of Firms
2. Type of Product
3. Market Model
Scenario:
(a) In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors'.
(b) Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care about who sells them their socks. The technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery.
(c) Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enough customers to share among four or more airlines without each one experiencing substantially higher average costs. Consumers view all airlines as providing basically the same service and will shop around for the lowest price.
(d) A publishing company owns the U. S. copyright to a popular series of books. It is the only company with the legal right to publish these books in the United States.