Examine the history of the market that delivers movie rentals (not just a single firm in this
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Question:
Examine the history of the market that delivers movie rentals (not just a single firm in this market).
- What are the economic characteristics of this market over time?
- Has it become more competitive or less competitive over time?
- Have the number of firms remained constant or has there been entry and exit in this industry?
- What caused the observed changes in the industry over time (think about the barriers to entry)?
- How does market power relate to prices, the size of the market (number served), and the amount of surplus generated?
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