apples itunes monopoly

Read the article Apple’s iTunes Monopoly

Respond to the following questions:
a) Is Apple iTunes (and/or iPod) a monopoly, a monopolistic competitor, or a competitor in a competitive market? Explain your answer in terms discussed in (Mankiw) Chapters 13, 14, 15; distinguish between short-run and long-run scenarios.
b) What are the “welfare” (as discussed in Mankiw) implications involved with Apple’s behavior as a supplier/producer?
c) As a consumer, reflect on the significance, or lack thereof, of the “case against Apple”.
d) “Thinking like an economist”, what is your opinion of the “case against Apple”?

 

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