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Type of market structure best describes the digital camera

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In 2006, the five leading suppliers of digital cameras in the United States were: Canon, Sony, Kodak, Olympus, and Samsung. The combined market share of these five firms was 60.9 percent. The leading firm was Canon, with a market share of 18.7 percent. The own price elasticity for Canon's cameras was -4.0 and the market elasticity of demand was -1.6. Suppose that in 2006, the average retail price of a Canon digital camera was $240 and that Canon's marginal cost was $180 per camera. Based on this information, calculate the Rothschild index and Kodak's Lerner index.

Instructions: Enter your responses rounded to two decimal places.

Rothschild index:

Canon's Lerner index:

Which type of market structure best describes the digital camera in 2006?

Reference no: EM132587775

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