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The smartphone market has been dominated by Apple, but recently the Droid has been able to leverage Googles information services into market gains, while Blackberry, known for its secure business-oriented network, has attempted to become more attractive with a friendlier interface. At the same time, a number of less capable fringe firms are emerging. Suppose an economist analyzes this industry as follows: ECONOMIST: Each firm brings its own distinct capabilities to its product design, with each product design appealing to a different segment of the market. Apple is known for the aesthetics of its products; Google is known for its ability to manage information effectively; and Blackberry is known for its more secure data network. Each of these distinct capabilities is likely to be sustainable for some time and will be a source of competitive advantage for each. Fringe firms, on the other hand, do not appear to be able to replicate these capabilities; thus, they are more homogeneous and more likely to compete on price True or False: This analysis is consistent with the industrial organization (IO) view. True False

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3)Ride sharing applications, such as Uber and Lyft, offer ground transportation at a lower cost than more standard forms of transportation, such as cab services and car rentals. In some areas, regulators have banned Uber and Lyft, making it illegal to offer rides using these applications What group would you expect to be behind the efforts to ban ride sharing applications? Cab drivers Police officers Gas station owners Uber drivers

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