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- Plum charges £500 for its smartphone, producing a revenue of £8 million per month. It fears that a competitor, MV, will shortly make a price reduction of 10% for its product. The marketing manager is considering whether to match this price reduction in order to try and maintain sales. She has estimated that Plum’s PED is –1.5 and the CED with the competitor’s product is 0.8. The marginal cost is estimated to be 42% of the price. a) Calculate the effect on Plum’s sales volume and revenue assuming it maintains its price at the existing level. b) Calculate how much of a price cut Plum would need to make to maintain its sales volume at the existing level. c) Evaluate whether the price cut is a good strategyYou recently entered into a licensing agreement with Wilson Sporting Goods to manufacture and distribute their footballs, basketballs, and volleyballs in Asia. They will provide you permission to use their name, manufacturing specifications, and marketing designs. You will build and maintain the factory overseas. Wilson gains several advantages by entering this agreement with you. What is the key disadvantage for Wilson Sporting Goods?Amazon company Describe anything that differentiates a product of your company, anything that generates barriers to entry and exit in your company, and any government policies that promote efficiency in your industry.
- A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. )Determine the level of tax that would have to be applied to production to achieve the social optimum.A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. b)Graphically indicate and determine the magnitude of the social cost of the situation with a production level of 250 units.No written by hand solution Decreasing prices in the cosmetic industry to attract new customers within the market segment short essay
- Firms possessing resources or skills not available to competing firms may attempt to exploit it internationally. This is called: a. Use foreign raw materials b. Fully benefit from economies of scale c. React to trade restrictions d. Exploit monopolistic advantagesGeneral Motors, the automobile manufacturing company, recently ran an advertisement for its cars. It offered a 21% discount on its suggested retail price on all of its cars only to “current competitive owners” - anyone who is currently owning or leasing a NON-General Motors car. Customers must show proof of ownership (or lease) of a 2001 model year or newer non-GM vehicle dated at least 30 days prior to the sale of a new General Motors car. 1) How does General Motors benefit from selling cars at a 21% discount to non-GM owners? Explain why this pricing strategy increases General Motors’ revenues and profits versus selling all General Motors cars at one price. Be sure to use economic concepts used in the class for your answer. 2) Why does General Motors require proof of ownership (or lease) of a non-GM vehicle? Explains how this benefits General Motors.Hamd written solutions are strictly prohibited
- What is the current market size and growth potential of the South African chrome market?How has Low Cost Carriers established a unique position in the aviation industry? (short essay)Airline industry. It’s not the biggest carrier, but there are significant barriers to entry enabling it to serve a number of very profitable routes.
