Coupons offered on certain items at a grocery store is definitely an example of price discrimination. The marginal cost to provide the good is the same for the store whether or not the customer redeems a coupon; thus, offering discounts to some of their customers is price discrimination. According to authors Roger LeRoy Miller, Daniel K. Benjamin, and Douglass C. North in, The Economics of Public Issues one of the three conditions that must be met in order for price discrimination to be successful in yielding higher profits is the company must be able to identify differences across consumers willingness to pay for the same product (p. 119). Ultimately the goal is to serve as many people as possible and offering different prices is one way to
In the case of Sam vs. Quinn, his landlord, and the national chain store. Sam is who is working on a great innovation, a device that sounds like a barking dog that will help assist in the safety and welfare of others. Several months ago, Sam hit the jackpot that would change his life and landed in a verbal contract to sell 1000 units to a national chain store. However, this young inventor has been mass producing this product from his place of residence, his apartment, own by Mr. Quinn. Sam arrives home one day to find two letters, one from the chain store demanding the 1000 units be delivered immediately. The other was an eviction notice from Mr. Quinn stating that his barking machine has been pestering the other tenants and that Sam was not supposed to be conducting business from his apartment. Sam is furious at both situations and decides to pro-sue the matters. Therefore, before the court can rule on these cases, the court should determine the various elements whether there is a valid contract, a quasi-contract exists, a promissory estoppel, and the rights an obligation of a tenant would prevail on Sam’s claims.
In today’s 21st century, it takes good ethics for every company to strive competitively to maintain as the best top competitor in their industries; and has its provocations of smart goal as to how successfully they anticipate their business to function, when it comes to finances, attracting and recruiting employees, begin an admirable corporation to citizens, and while showing customers and employees love, courteous, and appreciation. Companies forestall unethical behavior of bad reputation to uphold the organization values. These atrocious speculations can permanently cause decreased revenues and will degrade the company name, sometimes irreparably damaged.
In Whine Merchants: Privilege, Inequality and the Persistent Myth of White Victimhood, Wise believes that discrimination is still rampant in today’s society. He supports this belief by discussing the different scenarios that white people are still privilege compare to blacks and Latinos. For example, employers will likely to hire a white person regardless of his criminal records compare to a qualified black person without a criminal record. Employers should look for a qualified applicant, rather than looking for skin color. Most black people who has a college degree will have a hard time getting a job because of their color. He also discussed how white people complains about the benefits that the government are providing to low income families
Discrimination continues to run rampant throughout organizations in both the United States and worldwide. The Supreme Court case, Dukes vs. Wal-Mart Stores, Inc., dealt with 1.5 million current and former female Wal-Mart employees that claim that they had been a victim of gender discrimination. The ensuing pages will discuss the specific issues that the plaintiffs encountered, followed by suggestions from a human resource manager’s stand point in rectifying adverse impact within the Wal-Mart organization.
Several leaders in the past were recognized and are still being recognized for their efforts in trying to deal with various societal issues such as discrimination from those considered superior in the society. Among them inclue Thmas Jefferson and Elizabeth Cady, who spoke in different ways about how leaders should deal with the discrimination challenges and the reasons for abolishing discrimination against the minority. They shared similarities in the way they wanted humankind to achieve liberation in different forms, although they also exhibited differences in the way this objective was to be achieved. They believed that the leadership of any society was responsible for wellbeing of its people in different ways and this implied that they
Ever walk into a store with a defined list, but still get other items you never intended to get? Well, in Marion Nestle’s article “The Supermarket: Prime Real Estate,” Nestle goes into detail about how the supermarkets in your daily life uses many tricks to get you to buy items and spend money. Nestle claims that supermarkets and their managers study habits of shoppers to gain the control using certain tactics. According to Nestle, “This research tells food retailers how to lay out the stores, where to put specific products, how to position products on shelves, and lastly how to set prices and advertise products” (Nestle 498). Some tactics that Marion Nestle mention are product location, music, and even item size. During the course of my paper I will convince you that these tactics are in fact real and bring more to your attention. Us consumers have to stick together and this is the first step.
Imagine having to clock out mid-shift to prevent getting paid overtime, but not leaving for another hour or two. Having to punch out for break but work through it, or having a paid vacation taken away as if it never existed? Situations relative to these are reality and are classified as wage theft, defined by the wage theft website as “a variety of infractions that occur when workers do not receive their legally or contractually promised wages” (Wage Theft). The public is generally uneducated of the concept of wage theft and the effects it has on our society, let alone what can be done about it. The Wage Theft Prevention Act, an act established in 2011 by the state of New York, provides laws protecting working citizens, and is an act that
"A Trial without witnesses, when it involves a criminal accusation, a criminal matter is not a true trial." (Bill McCollum) It is not fair to convict a person of a crime just because a person claims they are guilty. There needs to be evidence and proof to make sure they are telling the truth. People are accused wrong everyday. When people are accused wrong of something such as murder, it can ruin their life forever. One of the many people who suffered a wrong accusation was Kevin Green.
Victimology, or the study of victims, especially crime victims, has created new categories of victims that had not been previously noted. What are typically known as “street crimes”, such as rape, robbery, murder, and assault, have been identified as crimes since the biblical era, and the victims of such crimes have long been identifiable (Karmen, 2013). It has been the advances in the field of Victimology, and the questions which have been asked, that have identified new types of crime, and with these new crimes, come new types of victims. As social mores change, and new issues emerge, new categories of crime victims will be identified, and each new group of victims will present a new group of issues, which will need to be addressed. As these new groups of victims are identifies, victimologist will be tasked with asking the questions needed, so that the process of how these groups became victims, and be identified, and studied, in hopes of preventing future victimization.
Amazon can use 3rd degree price discrimination to divide customers into different groups and charge a different price to customers in different customers in different groups, but the same price to all consumers within the group. The firm will charge groups of customers prices relative to their demand elasticities. We can illustrate this on a graph:
Minority groups in society have faced prejudice and discrimination throughout history and they continue to face it today. Religion and government have immense power to dictate what is seen as “correct behavior” in society. Furthermore, it is when minority groups infringe on these beliefs, that they can face this extreme prejudice and discrimination. Minority groups who have faced these adversities include First Nations and LGBTQ+ groups. Two stories that show the adversities that these groups face are A Word From the Nearly Distant Past by David Levithan and Totem by Thomas King.
Harry Potter has become a household name throughout the years of its existence (Ernie 139) because of the publishing companies, Bloomsbury and Scholastic, that took the necessary risks. (Bristow 313). Contrary to popular belief, Harry Potter was not an instant success, especially since it had difficulty in finding a publisher (Visser and Kaai 196). What few people know is that several publishers actually rejected J.K. Rowling’s work before Bloomsbury first took a chance on it, and it took at least two years before the phenomenal novel reached the top sellers list in New York (Visser and Kaai 196). The Cinematic franchise of Harry Potter alone is worth at least 25 Billion Dollars (Wells and Fahey “The numbers are
In general ‘microeconomic theory’, Third-Degree Price Discrimination is said to be Pareto-inefficient because it reduces consumer surplus (Corts 1998). However, this claim has never been pervasive than it is in this modern day and age. With fast and ever-growing advancement in modern technology, firms are able to collect, analyse and utilise consumer information to their great advantage (Liu and Shuai 2016). Armed with this precise knowledge about the consumer, they (firms) can target any group of consumers they like. This is good news for them, but what about the consumer surplus/welfare? (Liu and Shuai 2016).
Also, even when there are no differences among customers, one might think that random price drops -- such as those Amazon says it uses -- are innocuous, since in theory, every customer is equally likely to benefit from the lower prices, though in fact, only some do. Also, the prices aren't tailored to particular customers' profiles, if they are offered truly randomly, so if it is the tailoring aspect that is troubling, random price drops eliminate it.
Profit maximization is concerned with the marginal revenue equaling marginal costs. I believe that in a lot of ways price discrimination does seek to embody the concepts of price maximization. Since different consumers do have varying degrees of demand, price discrimination seeks to charge the maximum that each person willing to pay. This strategy is often referred to as optimal pricing. When price discrimination is used, the airline will inevitable get some people to pay above the equilibrium price, such as in the case of the last minute or leisure traveler who is less price-discriminant. In turn, the business traveler who gets deep discounts because of loyalty programs, will in effect be getting a volume-pricing discount due to their frequent travel. The airline industry can often afford to give these discounts because there is often spare capacity, because most airlines are not consistently booked to 100% capacity on all flights. Therefore, the cost of adding one more person, the marginal cost, to the flight is low. The main tenet of profit maximization is that MR = MC. By filling those seats, even with discounted passengers, the airline still makes a profit.