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Explain briefly the common market structures by citing a specific example of companies & their market competition
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- What are the characteristics of the 4 types of market structure? What is the example for the company that falls under each market structure?PLEASE TYPE Suppose an industry that has 10 firms. Below are the market shares for 2008 and 2013 of the 10 firms. Market Share Firms 2008 2013 A B C D E F G H I G 26% 21% 16% 10% 9% 7% 4% 3% 2% 2% 22% 23% 19% 9% 8% 7% 6% 4% 1% 1% Using the CR4, CR8, and HHI, analyze the evolution of the potential market power of firms in the industry.cc4. a)What is the largest number of thingamabobs that can be produced and sold for Yaster Inc. to break even? thingamabobs. Round to the nearest thingamabob. b)How many thingamabobs should Yaster Inc. produce and sell in order to maximize profit? thingamabobs. Round to the nearest thingamabobs.
- Read the descriptions of the businesses provided. Determine the type of market structure and explain why. 1. Bill's Salmon Supplier: Bill's Salmon Supplier sells fresh salmon to local seafood restaurants. Every morning Bill sails out to sea to catch salmon, and each afternoon he returns to sell his catch to local restaurants. There are hundreds of other fishers catching and selling salmon. Because the salmon Bill catches is just like the salmon caught by the other fishers, he can't raise his price. 2. Healthy and Hearty Soups: Healthy and Hearty Soups produces a variety of soups. There is considerable competition in the soup market. However, Healthy and Hearty Soups has spent several million dollars on an advertising campaign to convince consumers that their soups are healthier than all other soups. Because of this advertising, Healthy and Hearty Soups charges a higher price than other soups on the market. 3. County Cable: County Cable supplies cable access to all local…The sum total set of interrelationships that establish the manner in which competitors behave in an industry could be referred to as competitive dynamics.Required: 1. Briefly explain what competitive rivalry is? 2. Explain what competitive behaviour is and the three factors that drive competitive behaviour 3. With the aid of a diagram explain the model of competitive rivalry and how a strategist can use that understanding to develop strategies that facilitate the attainment of higher financial performance3 a) Start with a model of the situation before the crisis in Ukraine. Draw a model of a representative individual firm in the market for wheat, i.e. an Australian wheat farmer who is a price-taker in the global market for wheat, in long-run equilibrium. Comment on the assumed market structure. Show and explain the amount of wheat the farmer will produce to the market, and explain revenue, costs and profits.
- (1) Would you characterize Industry 4.0 as arevolution or more of an evolution? Why? (2) Whymight various companies have an interest inpromoting Industry 4.0 as a conceptual “brand”?Complete the table below and graph the AR, MR, MC, and AC Q Price TR AR MR TC MC Profit 0 30 0 0 0 70 -70 5 27 135 27 27 135 0 10 24 240 24 21 197 43 15 21 315 21 15 252 63 20 18 360 18 9 300 60 25 15 375 15 3 345 30 30 12 360 12 -3 383 -23 35 9 315 9 -9 428 -113 40 6 240 6 -15 478 -238 45 3 135 3 -21 533 -398 50 0 0 0 -27 593 -593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.In Brazil, coffee beans are cultivated by a very large number of small farms that all produce beansof similar quality and taste at similar costs. Land is still plentiful, and the equipment required isaffordable enough to allow new farming businesses to start up under current market conditions.However, better production techniques, especially alternatives to polluting fertilisers anddeforestation, are needed in this industry. Using the theory and models of industry structure, examinethis industry. Should government be worried about any aspect of how an industry with this marketstructure will perform?
- In the argument for why perfect competition is allocatively efficient, the price that people are willing to pay represents the gains to society and the marginal cost to the film represents the costs to society. Can you think of some social costs or issues that are not included in the marginal cost to the firm? Or some social gains that are not included in what people pay for a good?What are the four basic assumptions of perfect competition? Explain in words what they imply for a perfectly competitive firm.Dr. Heinz Doofenshmirtz and Perry the Platipus have decided to venture into farming. They both participated in the venture eqully well, so at the end of the year, their farm produced five geese, each laying golden egs. Perry and Dr. Doof have to decide how to divide these five geese among themselves -- there are no market where they could sell them and there is not sharing or time-share arrangements possible. In other words, either they use the goose or loose it. Evidently, they cannot split an egg-laying goose in half.(a) Give an example of economically efficient allocation of golden egg laying geese between Perry and Dr. Doof. Briefly explain why the allocation you provide is efficient. (b) Give an example of an allocation of geese between the two that you think is fair (equitable). Briefly explain why it is fair in your opinion. (c) If the allocation in (a) is not the same as the one in (b), is it possible to come up with an allocation of geese that would be both efficient and…
