Managerial economics case 3 selected country Ireland IntroductionIreland has different market structures and traits that

Managerial economics case 3 selected country Ireland
Introduction
Ireland has different market structures and traits that determine economic development. The industry's operations and interaction with consumers are determined by the monopoly, oligopoly, and competitive markets. This paper will review these markets and give examples of those in Ireland.
Monopoly
An example of a monopoly company in Ireland is ESB, or electricity supply board, which was created in 1927 and has dominated the electricity generation and distribution in the country. Although, in the past few years, the market has been opened up for newer players, the ESB is the major contributor who retains major customers in the field. The initial entry costs for newer companies are a relatively difficult task. Therefore, the ESB has the strategic advantage of controlling this critical infrastructure.
A monopoly is an industry where a single organization controls the market's products and services. This is caused by difficult regulations when entering the market, thus preventing competing organizations from entering. Since ESB is among older companies, it meets the threshold for transmitting and distributing power. (Alhadeff, 2022). This makes it a natural monopoly since investing in infrastructure to supply power is difficult. Although similar companies may want to enter the market, they do not have enough resources.
The ESB has been widely recognized in Ireland for even distribution of infrastructure in the country, making it accessible to customers. Since there are costs associated with maintaining and constructing electricity infrastructure, it makes sense that all operators have to use one entity. However, the monopoly has led to centralized electricity provision and economies of scale. This has reduced the overall cost of power to consumers, thus making it reliable.
Oligopoly
In an oligopoly market, the control is retained by a few organizations and sellers, making it difficult for new entrants. In the market, there are few organizations that have vast power, thus preventing entry into the market. In contrast, other companies end up depending on the large sellers to make decisions on their behalf. (Wang & Werning 2022). In Ireland, the telecommunication industry is an oligopoly, and there are few major organizations that have dominated the markets.
The major companies controlling this industry in Ireland include Three, Vodafone, and Eir Mobile. Such companies have already established massive infrastructure in the country, thus making the environment competitive for newer organizations. Such dominant companies normally use non-pricing competitive methods like the differentiation of services and marketing campaigns. This has made them more popular despite the fact that there are other local providers, like Virgin Mobile and Clear Mobile, which have limited shares.
Historically, Ireland's telecommunication industry has changed significantly, whereas initially, its monopoly was dominated by Eir. Currently, due to market liberalization and privatization, the industry has become an oligopoly where a few companies dominate. Until Eir was private, it dominated the market from the 1990s. However, with the entry of three Ireland and Vodafone, the market has been controlled by fewer players. However, the oligopoly market has attracted many investors, leading to more investment and higher access to mobile networks and broadband. This has improved the service quality relatively. Consumers benefit from better services and technology.
Competitive industry
Within a competitive industry, there are several companies, but there are few barriers that prevent the entry of newer organizations. Additionally, the products in competitive industries are similar. An example of such an industry is the retail industry, where companies offer almost similar products while the prices are competitive in order to attract customers. (Paley, 2021). The retail industry offers homogenous products from different producers. There are fewer barriers to new companies entering the retail industry.
In Ireland, the retail industry is highly competitive, where customers can access a variety of products based on their needs. Such companies have to strive to meet the limited market share. Major retail companies in the country include Dunnes Stores, Tesco, and SUPERVALU. For competitiveness, international companies are present and utilize their robust supply chain processes to offer variety to customers. Quality customer service is a top priority for such an organization, as it ensures that customers return. Generally, there is no single organization that has dominated the market.
Historically, the retail market in Ireland has evolved significantly over the past few years. The market dynamics were changed after the entry of Aldi and Lidl, which are markets of international competitors that offered customers discounts upon purchase. Such international companies forced local organizations to focus on customer value and innovativeness to boost competitiveness. Companies are under constant pressure to attract new customers and retain them, which has boosted the quality of customer service they receive from similar organizations.
Conclusion
In Ireland, different market structures are used; for example, ESB is the major power producer, making it a monopoly. The telecommunications oligopoly market changed after privatization in the 1990s. In contrast, the retail industry is competitive due to limited entry barriers that allow new organizations to enter.

References
Alhadeff, D. A. (2022). Monopoly and competition in banking. Univ of California Press.
Paley, N. (2021). The manager's guide to competitive marketing strategies. Routledge.
Wang, O., & Werning, I. (2022). Dynamic oligopoly and price stickiness. American Economic Review, 112(8), 2815-2849.