1. Game Theory A. Question #9-6 (basketball players…) Barbara: a. Both Compete = 12 points (individually) ? 24 points (together) b. Monopolize = 18 points (individually) ? 20 points (together) c. Cooperates = 2 points (individually) ? 20 points (together) d. Monopolize = 8 points (dual) ? 16 points Juanita: e. Both Compete = 12 points (individually) ? 24 points (together) f. Monopolize = 18 points (individually) ? 20 points (together) g. Cooperates = 2 points (individually) ? 20 points
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Week 5 Case Assignment MRKT 5000 PepsiCo: “Pepsi Sales Bubble with Limited-Edition Soft Drinks” Case Summary: Pepsi and their partner‚ Suntory‚ are using limited-edition soft drinks to boost market share in the $30 billion Japanese beverage market and keep sales bubbling despite a cola war with Coca-Cola and fierce competition for space on store shelves. No new product is a sure thing‚ but the Japanese market is particularly challenging. Of the 1‚500 beverages launched there every year‚ only
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Name Professor Subject Date Global Managerial Economics The small and medium-sized enterprises (SMEs) form a crucial part of the U.S. economy. The SMEs create the most jobs in the country; they target the ordinary Americans for employment thus making them a very important component of the economy. Without the SMEs‚ the economy will bleed millions of jobs‚ adversely affecting the economy. This is the reasoning behind the drive by President Obama to give this sector newly acquired impetus and promote
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CHAPTER 9 Three conditions for a market to be perfectly competitive? Many buyers and sellers‚ with all firms selling identical products‚ and no barriers to new firms entering the market. In perfectly competitive markets‚ prices are determined by The interaction of market demand and supply because firms and consumers are price takers. Price taker Buyer or seller that is unable to affect the market price. A buyer or seller that takes the market price as given When are firms likely to be
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and exit Short Run Firm has some market power and faces downward sloping demand curve Price exceeds marginal cost When P>AC firms earn positive economic profits Long Run Positive economic profits in short run attracts new firms Firm’s market share falls and demand curve shifts down P=AC firms earn 0 economic profit P>MC and 0 economic profits deadweight loss Market in which only a few firms compete with one another‚ and entry by new firms is impeded Oligopoly Environment Few
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Economics of Consumption Tax on Unhealthy Goods. Introduction: Unhealthy consumption prevails in the fields of nutrition‚ energy and transport. Taxing is one a solution to provide a healthier living. With globalization‚ qualities of goods do fail to meet the international standards. International movements of goods which damage health are increasing with Cross border marketing‚ promoting unhealthy behaviours of alcohol and tobacco consumption and unhealthy diets. (Richard Smith‚ 2003). The
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Chapter 5: Question 3: Suppose that two units of X and eight units of Y give a consumer the same utility as four units of X and two units of Y. Over this range: a. If the consumer obtains one more unit of X‚ how many units of Y must be given up in order to keep utility constant ∆Y∆X=2-84-2= - 62= -3 ~ Utility unchanged‚ if consumer exchanges 3 units of Y for 1 unit of X. b. If the consumer obtains one more unit of Y‚ how many units of X must be given up in order to keep
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prefer cheap products rather than the luxury once. 5) Influenced by urban life style easily. 6) People are literate to identify different uses of a product in the market. 7) Any product that is expensive is considered as conspicuous consumption. Strategy: Here we observe that it is a monopolistic market so we have to reduce our price from three times that of the local brands to existing market price or less than that as we are not trying to make a luxury product. We need to use penetration
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$10‚000 Utilities $1‚000 Interest on bank loan $10‚000 ________________________________________ Calculate (a)the explicit costs‚ (b) the implicit costs (c) the business profit (d) the economic profit and (e) the normal return on investment in the business. a) Explicit Costs = $45‚000 + $15‚000 + $10‚000 + $1‚000 + $10‚000 = $81‚000 b) Implicit Costs = Opportunity Cost – which is her salary foregone = $25‚000 c)
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1) Discuss the owner-manager conflict within the firm. Provide two real world manifestations of the conflict. Owner-manager conflicts finds it basis on the self-interested behaviors of managers‚ owners and shareholders. Firm managers may have personal goals that conflict with the owner’s goals of maximizing shareholder wealth. Potential conflicts occur when managers seek to maximize their own utility at the expense of the firm’s shareholders. Conflict between owners and managers typically arise
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