1) Select a company that publicly traded on a stock exchange. Do not select the same company as your classmates. 2) Write a brief summary about the company. Include the ticker symbol of the company (one half page at a minimum), Include a link to reference source. The summary must be in your own words, not just copy and pasted from your so source. 3) Answer the following questions about the company and its products. For the product questions select a single primary product for the firm. Many firms have numerous produces which each will have unique attributes. For instance, if your company is Samsung, pick a product major product they produce such as cellphones: 3.1) What is the structure of the market your firm is in - Perfect competition, oligopoly, monopoly, or monopolistic competition? Justify your answer. 3.2) Are the products of the firm differentiated or homogenous? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words. 3.3) Name three substitutes and name three complements to your firms products. Be specific! 3.4) How does the firm and its industry conduct itself in regards to pricing behavior (high mark-up on products or low mark-ups? Lerner index is NOT required), advertising (spend a lot or very little?), and research and development (spend a lot or very little?). See chapter 7 for details. Be detailed - your answer should be multiple sentences, not a few words. 3.5) Is your firm vertically integrated? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words. 3.6) Name two significant variable costs of the firm and name one significant fixed cost. 3.7) Are the firm's products price elastic or price inelastic? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words.
1) Select a company that publicly traded on a stock exchange. Do not select the same company as your classmates. 2) Write a brief summary about the company. Include the ticker symbol of the company (one half page at a minimum), Include a link to reference source. The summary must be in your own words, not just copy and pasted from your so source. 3) Answer the following questions about the company and its products. For the product questions select a single primary product for the firm. Many firms have numerous produces which each will have unique attributes. For instance, if your company is Samsung, pick a product major product they produce such as cellphones: 3.1) What is the structure of the market your firm is in - Perfect competition, oligopoly, monopoly, or monopolistic competition? Justify your answer. 3.2) Are the products of the firm differentiated or homogenous? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words. 3.3) Name three substitutes and name three complements to your firms products. Be specific! 3.4) How does the firm and its industry conduct itself in regards to pricing behavior (high mark-up on products or low mark-ups? Lerner index is NOT required), advertising (spend a lot or very little?), and research and development (spend a lot or very little?). See chapter 7 for details. Be detailed - your answer should be multiple sentences, not a few words. 3.5) Is your firm vertically integrated? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words. 3.6) Name two significant variable costs of the firm and name one significant fixed cost. 3.7) Are the firm's products price elastic or price inelastic? Justify your answer. Be detailed - your answer should be multiple sentences, not a few words.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:1) Select a company that publicly traded on a stock exchange. Do not select the same company as your
classmates.
2) Write a brief summary about the company. Include the ticker symbol of the company (one half page at a
minimum), Include a link to reference source. The summary must be in your own words, not just copy and
pasted from your so
source.
3) Answer the following questions about the company and its products. For the product questions select a
single primary product for the firm. Many firms have numerous produces which each will have unique
attributes. For instance, if your company is Samsung, pick a product major product they produce such as
cellphones:
3.1) What is the structure of the market your firm is in - Perfect competition, oligopoly, monopoly, or
monopolistic competition? Justify your answer.
3.2) Are the products of the firm differentiated or homogenous? Justify your answer. Be detailed - your
answer should be multiple sentences, not a few words.
3.3) Name three substitutes and name three complements to your firms products. Be specific!
3.4) How does the firm and its industry conduct itself in regards to pricing behavior (high mark-up on
products or low mark-ups? Lerner index is NOT required), advertising (spend a lot or very little?), and
research and development (spend a lot or very little?). See chapter 7 for details. Be detailed - your answer
should be multiple sentences, not a few words.
3.5) Is your firm vertically integrated? Justify your answer. Be detailed - your answer should be multiple
sentences, not a few words.
3.6) Name two significant variable costs of the firm and name one significant fixed cost.
3.7) Are the firm's products price elastic or price inelastic? Justify your answer. Be detailed - your answer
should be multiple sentences, not a few words.
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