(Answered) Autonomous self driving carsthe automobile market most

Economics

Autonomous (self driving) Cars

The automobile market most closely resembles monopolistic competition. (a) Do you believe the market power of automobile companies will increase or decrease with autonomous cars and why? (b) If autonomous cars become common in the United States, how else will the market change?

Thoughts/Hints/Random Reactions on Market Power to potentially consider in your answer: Will cars become more commoditized? Will there be fewer or more firms? Will car buyer's bargaining power increase or decrease? Will the demand for cars change and how? Will the identity of the buyers change?

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