Question: Characterise the resulting market types, from the privatisation of the rail industry in the US and some European countries:

a) Initially, the rail industry was under government ownership.

b) In the first stages of privatisation, prices declined substantially and the number of companies increased.

c) At a later stage, mergers and acquisitions resulted in a small number of companies controlling a large market share. Prices increased and then remained stable.

d) In which of the three market types above would you expect a greater degree of intensity regarding advertising activity and why?