Homework – Discussion 2 Initial Response: Choose a product or service that you are familiar with (something you use or have used, something related to a job you or someone close to you has held, etc.).  Are there a lot or few firms in the industry?  Are the products similar or identical or without close substitutes?  

Initial Response: Choose a product or service that you are familiar with (something you use or have used, something related to a job you or someone close to you has held, etc.).  Are there a lot or few firms in the industry?  Are the products similar or identical or without close substitutes?  Are there barriers to entry and, if so, what are they?  

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