Problem:
Please help with an analysis of the simulation (link provided below). Give specific details of the results obtained and alternatives you looked at while playing the simulation. Discuss why one decision is more appropriate than others.
Link to simulation: https://info.umuc.edu/mba/public/TIS/economics/market/economics_market_part1.swf
Note: In my analysis I want to include various alternatives. Try alternatives. In your response please look at other choices and try to explain the difference in results. Please cover the following questions in your response:
Q1. Describe the competitive advantage/unique resources Quasar Computers possesses in the monopoly market scenario. To this end, describe why intellectual property rights are important in a capitalistic market system. How might a firm hedge against an expiring patent so they can maintain some sort of competitive advantage into the future?
Q2. In an oligopoly, firms try to avoid competing on prices, and probably try to avoid competing in other aspects to the marketing mix (products, promotion, placing). Is this possible in this market?
Q3. In a monopoly scenario, the firm does not need to worry about generic strategies. However, as firms move through successively more competitive market structures, they need to consider which type of generic strategy to implement. After referring to Porter's Generic Strategies, please comment on which strategy you recommend depending on the oligopoly, monopolistic competition, and perfect competition scenarios. Please justify.
Q4. Consider the perfect competition scenario. Based upon Porter's Five Forces, rate each of the forces as high-medium-low and justify your rankings. In a perfect competition scenario, is the computer industry attractive? Why, or why not?
Please provide response in about 4-5 pages.