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Select a public limited company of your choice which has some degree of market power.essay of 2400 words or fewer, evaluate the pricing strategies it employs for its core product/business in order to increase its market share and profitability within its industry.You will need to build up a case study based on a company of your choice. You must first demonstrate that the company has some power to set its own price (that is, it has some degree of market power) – e.g. what is the structure of the industry it operates in? What is its market share for the product? How concentrated is the industry?You must then use economic analysis to evaluate the pricing strategies your firm has adopted for its main product(s). Make clear comparisons between the predictions of the economic theories covered in the module and the empirical evidence for your firm. Are the strategies adopted by the firm optimal? If so, why? If not, why not? How might they be improved?
i choose NISSAN as my company to do this task.
Select a public limited company of your choice which has some degree of market power.essay of 2400 words or fewer, evaluate the pricing strategies it employs for its core product/business in order to increase its market share and profitability within its industry.You will need to build up a case study based on a company of your choice. You must first demonstrate that the company has some power to set its own price (that is, it has some degree of market power) – e.g. what is the structure of the industry it operates in? What is its market share for the product? How concentrated is the industry?You must then use economic analysis to evaluate the pricing strategies your firm has adopted for its main product(s). Make clear comparisons between the predictions of the economic theories covered in the module and the empirical evidence for your firm. Are the strategies adopted by the firm optimal? If so, why? If not, why not? How might they be improved?
i choose NISSAN as my company to do this task.
Consider a particular market-clearing price and quantity under a perfectly competitive equilibrium. As the demand curve at this point becomes more inelastic, the consumer surplus in the market tends to
a. increase.
b. decrease.
c. remain the same.
d. We do not have enough information to answer this question.
a. increase.
b. decrease.
c. remain the same.
d. We do not have enough information to answer this question.
The Canada government wants to reduce the consumption of beer. A two dollar tax on each bottle purchased may reduce the consumption of beer under which circumstance(s)?
a. Beer is an inferior good.
b. Beer is a normal good.
c. Beer is an inferior good and the taxes collected from this tax are rebated to consumers.
d. Beer is a normal good and the taxes collected from this tax are rebated to consumers.
e. Both B and C
a. Beer is an inferior good.
b. Beer is a normal good.
c. Beer is an inferior good and the taxes collected from this tax are rebated to consumers.
d. Beer is a normal good and the taxes collected from this tax are rebated to consumers.
e. Both B and C
Jon's income-consumption curve is a straight line from the origin with a positive slope. Now suppose that Jon's preferences change such that his income-consumption curve remains a straight line but rotates 15 degrees clockwise. Jon's demand curve for the good on the horizontal axis
a. will shift left.
b. will shift right.
c. will not change.
d. might do any of the above.
a. will shift left.
b. will shift right.
c. will not change.
d. might do any of the above.
Given that:
G=20
I=35
C=0.9Yd+70
T=0.2Y+25
Calculate the balance of national income.
G=20
I=35
C=0.9Yd+70
T=0.2Y+25
Calculate the balance of national income.
Michael's Dairy farm production function is given by , where K is the number of machine milkers and L is the amount of labour hours he uses.
a) Does this production function exhibit increasing, constant or decreasing returns to scale?
b) Holding the number of machine milkers constant at 16, is the marginal product of labour increasing, constant, or decreasing as more labour is used?
a) Does this production function exhibit increasing, constant or decreasing returns to scale?
b) Holding the number of machine milkers constant at 16, is the marginal product of labour increasing, constant, or decreasing as more labour is used?
Given the following demand and supply functions:
QDX = 1600 - 3PX + 0.4PY - 0.3PZ + 0.003I
QSX = 500 + 15PX - 2W - 0.3R
Where: PY = $160; PZ = $55; I = $4850; W = $11; R=$145
a) What is the equilibrium price?
b) What is the equilibrium quantity?
c) Calculate the point price elasticity of demand, at the equilibrium values (using the equilibrium price and equilibrium quantity in part (a). Show your calculation.
d) Find the point income elasticity of demand. Interpret your result.
QDX = 1600 - 3PX + 0.4PY - 0.3PZ + 0.003I
QSX = 500 + 15PX - 2W - 0.3R
Where: PY = $160; PZ = $55; I = $4850; W = $11; R=$145
a) What is the equilibrium price?
b) What is the equilibrium quantity?
c) Calculate the point price elasticity of demand, at the equilibrium values (using the equilibrium price and equilibrium quantity in part (a). Show your calculation.
d) Find the point income elasticity of demand. Interpret your result.
Economics
Many firms do not price discriminate. What can prevent some firms being able to do price discrimination?
What are the effect on macroeconomics in the world?
Because of economics of scale, it is sometimes more cost effective for a firm to operate a large plant at less than maximum efficiency than a small plant at maximum efficiency”. Do you agree with this statement? Explain
