5) INDIES OR MAJOR RECORD LABELS? (2x weight question!)The Big Three music labels in the US are Universal, Warner, and Sony. However, there are many lesser known independentlabels that also can sign musical artists.a) After doing a bit of independent research, briefly compare and contrast the two types of record labels (majors, indies) at anintuitive level. What do they have in common and how do they differ? Be sure to cite your sources (we're not picky aboutcitation style, but we should be able to retrace your steps). Typically included: author, title, publication, date, pages/URL.b) Recalling the concept of a well-defined economic problem, build a model of a musical artist deciding whether to signwith a major label or an indie label. I.e., what is the Actor, Objective, Choice, and Environment? Make it clear what thebenefits and costs are for the two choices. Make up some reasonable numbers and show what decision should be made forthose assumptions.

a)At the visceral level, the structure of the major record companies (like Universal, Warner, and…

Answered: 5) INDIES OR MAJOR RECORD LABELS? (2x…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following statements is generally true? A. The degree of rivalry in an industry is largely independent of the number of firms. B. The smaller the number of firms in an industry, the greater the rivalry. C. The larger the number of firms in an industry, the greater the rivalry. D. Rivalry is less the larger the number of firms in an industry.
5. In 2011 the European Commission fined Proctor & Gamble and Unilever 315 million euros for agreeing to fix the price of laundry detergent in eight countries. An economist would say that the agreement illustrated a. merging b. colluding c. using legal strategies to increase profit d. none of the above
Question 4 A bus is crowded for travel during peak hours. During such travel hours two daily passengers ‘Ali’ and ‘Hassan’ enter the Metro. Luckily, two adjacent seats are free in the bus. Each of them must decide whether to sit or stand. For both, sitting alone is more comfortable than sitting next to the other person, which in turn is more comfortable than standing.(Note: for all parts below consider Ali as ‘row player’ and Hassan as ‘column player’. Take the game as a simultaneous game NOT sequential). Show ALL steps and working in support to your answersa) Assume that both ‘Ali’ and ‘Hassan’ are altruistic, ranking outcomes according to the other person’s comfort and, out of politeness, prefer to stand than to sit if the other person stands. Model the situation as a strategic game b) Find any Nash equilibrium (equilibria) if it exists. c) Does a dominant strategy exist for either ‘Ali’ or ‘Hassan’ with these preferences?
Which of the following goods would be considered “non-rival”? Select one: a. parking places b. pizza c. computers d. streetlights
Question 3: a. Explain the difference between and the economic relevance of fixed costs, sunk costs, variable costs, and marginal costs by using specific examples from everyday administrative activities. b. By using specific product markets briefly discuss the significant difference among the following market structures: (i) perfect competition, (ii) monopoly, (iii) monopolistic competition, and (iv) oligopoly. c. Why are externalities, public goods, and information asymmetry major problems in the market? Discuss.
Firms compete in different types of market structures. In the real world, most markets are either monopolistically competitive or oligopolistic, and a few markets have a monopoly. Note that perfect competition is rare because no market has all the characteristics of a perfectly competitive market as described by the theory of perfect competition. 1. (a) What is a monopoly? Give an example. (b) How many firms are there in the Internet provider market? Is it easy or difficult for new firms to set up and compete in this industry? Explain. (c) How do firms in the Internet provider market compete?
I need help with number 1, 2, 3, 4 1. Which of the following advertisements provides information to the consumer? a. “CarbChips have half the carbohydrates of regular potato chips”. b. “The Taj Mahal restaurant is like a trip to India”. c. “Brain-power Books – just think it!” d. “Avion Airlines wants to take you higher”. 2. Firms in an Oligopoly produce a quantity of output that is less than the level produced by a perfectly competitive market and charge a price that is greater than the perfectly competitive price. a. True b. False 3. Which of the following is true of the model of monopolistic competition? a. Barriers to entry enable firms to enjoy positive profits in the long run. b. The number of firms declines over time as a result of economies of scale. c. The monopolistically competitive firms enjoy a greater market power than a monopolist. d. Firms tend to locate near each other in order to minimize total travel costs for consumers.…
QUESTION 5 In recent years, technology has greatly improved our listening experience through better earphones and headphones. Some of the popular brands offering headphones with the latest technology are Suny and Base. Answer the following questions: a. A new company called Company X is planning to enter the market for headphones. Their headphones use the latest technologies and are able to rival many existing popular brands. There are many positive reviews for Company X and it is believed that their arrival will provide consumers more options when choosing a headphone. The arrival of Company X's headphones will probably result in the demand for existing headphones to be more Type I for Inelastic, E for Elastic or N for No changes. b. Company X is experimenting to decide the best price to sell their newest headphones. In a surveyed market, it is estimated that 685 headphones can be sold in a day if it is sold at a price of $366. If prices drop to $312, more headphones can be sold and…
Is the market efficient or not? Why? 1- competitive market: 2-monopoly : 3-monopolistic competition : 4-oligopoly:
2. Which of the following is FALSE regarding oligopoly markets? A. Oligopoly markets feature many firms selling similar or differentiated products. B. Firms in oligopoly markets are tempted to collude or form agreements about prices and quantities. C. Oligopoly markets usually produce a level of output and charge a price that is somewhere between the output and price in perfectly competitive and monopoly markets. D. Firms in oligopoly markets may form cartels and attempt to jointly act as a monopoly. E. In oligopoly markets, the actions of one firm can impact the profit and sales of other firms. 3. Which of the following is true regarding the kinked demand curve model? A. Total revenue will rise if the firm increases its price relative to the equilibrium price. B. None of these are true. C. Firms have an incentive to change their price if marginal costs change. D. When firms raise their prices from the equilibrium price, they face a more inelastic demand curve. E. Firms have an…
. Walmart follows a centralized purchasing system; they achieve high efficiency in their operations, concentrate on small towns, and reap the experience curve's benefit. What generic strategy does Walmart follow? Briefly explain the strategy. . Explain briefly the traditional approach to strategic control (you can even explain using a diagram) . Briefly explain the school of thought that argues against CEO Duality. Mention components of emotional intelligence with a brief explanation. What is matrix structure in the organizational design approach? (you can even explain using a diagram) Discuss the four criteria that a firm's resources must possess to maintain a sustainable .
QUESTION 4 Match each of the terms to their description: Collusion A. an illegal official arrangment where firms work together B. firms work together Differentiated Products Cartel C. a game where cooperation provides the largest gains D. products have features that separate them from others. E. the branch of mathematics that analyzes decision making Game Theory Prisoner's Dilemma Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ar Type here to search 62°F

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