Which of the following factors explain why it is difficult for competitors to imitate a Blue Ocean Strategy creator's business model? Factor 1: Strategic moves for entering into a Blue Ocean typically require firms to make fundamental changes in their operations. Factor 2: Creators of Blue Oceans initially capture all of the available market demand and rapidly build brand recognition. Factor 3. Creators of Blue Oceans tend to immediately generate economies of scale and achieve a low-cost position.
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Which of the following factors explain why it is difficult for competitors to imitate a Blue Ocean Strategy creator's business model? Factor 1: Strategic moves for entering into a Blue Ocean typically require firms to make fundamental changes in their operations. Factor 2: Creators of Blue Oceans initially capture all of the available market demand and rapidly build brand recognition. Factor 3. Creators of Blue Oceans tend to immediately generate economies of scale and achieve a low-cost position.
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- A common characteristic of oligopolies is a. interdependence in pricing decisions. b. independent pricing decisions. c. low industry concentration. d. few or no plant-level economies of scale.Evaluate the following statement: “Managers should specialize by acquiring only the tools needed to operate in a particular market structure. That is, managers should specialize in managing either a perfectly competitive, monopoly, monopolistically competitive, or oligopoly firm.”This assignment is designed to develop skills in collecting and assessing market information and presenting clear written communication about how market structure affects the conduct and performance of firms in an industry. Select one of the three oligopoly markets in Singapore: Telecommunications Supermarkets Ride-Hailing apps Your assignment should address the following questions: 1. 2. 3. How does the market structure (number of firms that compete in a market & relative size of the firms) affect the conduct or behaviour of firms in your chosen industry (price markups & amount spent on advertising) and their performance (profits)? Using one or more Oligopoly models (Sweezy, Cournot, Stackelberg, Bertrand), analyse how firms in your chosen industry make and respond to their competitors' output and pricing decisions. What are the pricing strategies (2nd degree, 3rd degree, Versioning, Bundling, Tying) that firms in your chosen industry implement, and discuss how…
- Based on the information given, indicate whether the following industry is best characterized by the model of perfect competition, monopoly, monopolistic competition, or oligopoly.a. Industry A has a four-firm concentration ratio of 0.005 percent and a HerfindahlHirschman index of 75. A representative firm has a Lerner index of 0.45 and a Rothschild index of 0.34.b. Industry B has a four-firm concentration ratio of 0.0001 percent and HerfindahlHirschman index of 55. A representative firm has a Lerner index of 0.0034 and Rothschild index of 0.00023.c. Industry C has a four-firm concentration ratio of 100 percent and HerfindahlHirschman index of 10,000. A representative firm has a Lerner index of 0.4 and Rothschild index of 1.0.d. Industry D has a four-firm concentration ratio of 100 percent and HerfindahlHirschman index of 5,573. A representative firm has a Lerner index equal to 0.43 and Rothschild index of 0.76Based on the information given, indicate whether the following industry is best characterized by the model of perfect competition, monopoly, monopolistic competition, or oligopoly a. Industry A has a four-firm concentration ratio of 0.005 percent and a HerfindahlHirschman index of 75. A representative firm has a Lerner index of 0.45 and a Rothschild index of 0.34. b. Industry B has a four-firm concentration ratio of 0.0001 percent and HerfindahlHirschman index of 55. A representative firm has a Lerner index of 0.0034 and Rothschild index of 0.00023 c. Industry C has a four-firm concentration ratio of 100 percent and HerfindahlHirschman index of 10,000. A representative firm has a Lerner index of 0.4 and Rothschild index of 1.0. d. Industry D has a four-firm concentration ratio of 100 percent and HerfindahlHirschman index of 5,573. A representative firm has a Lerner index equal to 0.43 and Rothschild index of 0.76.Suppose that the market for computers is dominated by a single firm, like IBM, that is able to exert influence over prices and output. This situation violates the perfect competition assumption of*many buyers and sellers.identical or homogeneous goods.ease of entry and exit.no differentiation. City hotels and restaurants are illustrative of*pure competition.monopolistic competition.oligopoly.monopoly.This characteristic of oligopoly implies that there is interdependence among firms that leads to conflicting motives, that leads them to act and react on the price movements of one another.*lack of uniformitycompetitionno unique patter of pricing behaviorinterdependence The actions of a firm in a purely competitive industry have no effect on market price; therefore, the demand curve faced by the firm is*unknown.a downward-sloping curve.a horizontal line at the level of the market price.a firm’s total revenue curve. A competitor maximizes profit by producing the output that*equates price…
- Perfect Picture Cameras: Perfect Picture Cameras is a national camera company. It competes with 2-3 national camera companies. In order to gain an upper hand in the market, Perfect Picture Cameras has differentiated its camera by including an automatic focus and flash. Perfect Picture Cameras has the ability to raise its prices because of its unique features. However, it sometimes worries about the decisions and strategies of the other competitors. Choose one type of market structure: Perfect competition oligopoly monopolistic competition monopoly Type of Market Structure: Reason:Argyle is a large, vertically integrated firm that manufactures sweaters from a rare type of wool produced on its sheep farms. Argyle has adopted a strategy of selling wool to companies that compete against it in the market for sweaters. Explain why this strategy may, in fact, be rational. Also, identify at least two other strategies that might permit Argyle to earn higher profits.In which market structure would you place each of the following products: monopoly, oligopoly, monopolistic competition, or perfect competition? Why? Canned tuna sold to consumers who buy in grocery stores Wheat being produced by Oregon farmers Grocery store in a small, isolated rural community Agricultural herbicides and insecticides Retail Market for water and sewage services in Corvallis
- All of the following are characteristics of long-run equilibrium for firms in a monopolistically competitive market except: A. price equals marginal cost. B. price equals average total cost. C. price exceeds the minimum of average total cost. D. marginal cost equals marginal revenue.Complete the following table by indicating key characteristics of each market structure. Market Structure Number of Firms Type of Product Entry Control of Price Monopoly Oligopoly Monopolistic Competition Perfect Competition For each of the following scenarios, determine which market structure best describes the scenario. Scenario Market Model Dozens of plain white socks producers use a widely known and readily available technology. Scholastic Inc. is the only company with the U.S. copyright to a popular series of books. Many small shops sell different styles of sweaters. Sweaters vary by price and quality. Four Internet providers offer similar services. Any new company would have to engage in a price war with the existing companies.Monopolistic Competition:Apple is one of many firms that is a supplier in the market for smart phones Apple’s iPhones are considered to be relatively high-end smart phones due to their design’s attention to style and their place in the ecosystem of complementary Apple products Both qualities set them apart from other producers’ smart phone offerings Assume that Apple is currently earning short-run economic profits On a correctly labeled diagram, show Apple’s profit-maximizing output (Q*) and price (P*), as well as the area that represents the firm’s profits What happens to Apple’s price, output, and profit in the long-run? Illustrate your answer on another diagram At the profit maximizing prices you identified in parts (a) & (b), is Apple producing at the efficient scale? Support your answer with no more than two sentences If you were Tim Cook, the CEO of Apple, and one of your analysts informs you that after looking carefully at the Apple Watch…