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J Copyright © McGraw-Hill Education. Permission is granted to reproduce for classroom use. NAME DATE CLASS Math Practice for Economics Comparing Prices among Competitors networks Background information: The candy industry in the United States could be defined as an oligopoly because just three companies make 99.4% of snack size chocolates. The big three companies are Hershey's, Mars, and Nestle. All three companies use much of the same ingredients, so how do they compete against one another? This is primarily done through price. Directions: The two tables below show what a snack size chocolate costs from the various candy makers, big and small. Read the table below. Then, answer the following questions using the information in the table. 110 ct bag $18.12 = 16 cents each Walmart Amazon Hershey's 215 ct. bag $13.88 = 6 cents each 100 ct. bag $12.81 = 13 cents each Mars 230 ct. bag $13.88 = 6 cents each Nestle 70 ct. bag $8.98 = 13 cents each 55 pc. Bag $17.96 = 33 cents each Candy Warehouse 210 ct. bag $35 = 17 cents each 157 pc bag $29.50 = 19 cents each Godiva Assorted bite size chocolates 70 pc. Box $90.00 = $1.29 each Russell Stover 18 pc. Box $12.99 = $.72 each (The prices in this chart were taken directly from the candy makers' websites) Questions: 100 ct. bag $19.90 = 20 cents each See's 24 pc. Box $17.50 = $.73 each 1. Why can the big candy makers produce candy that is less expensive per piece? 2. What is the most expensive chocolate per piece based on the tables above? 3. If your favorite candy is M&M's, which are produced by Mars, where would you purchase the least expensive bag based on the chart above? 4. How does where you can purchase the candy affect the price? How does it affect the availability? 1

J Copyright © McGraw-Hill Education. Permission is granted to reproduce for classroom use. NAME DATE CLASS Math Practice for Economics Comparing Prices among Competitors networks Background information: The candy industry in the United States could be defined as an oligopoly because just three companies make 99.4% of snack size chocolates. The big three companies are Hershey's, Mars, and Nestle. All three companies use much of the same ingredients, so how do they compete against one another? This is primarily done through price. Directions: The two tables below show what a snack size chocolate costs from the various candy makers, big and small. Read the table below. Then, answer the following questions using the information in the table. 110 ct bag $18.12 = 16 cents each Walmart Amazon Hershey's 215 ct. bag $13.88 = 6 cents each 100 ct. bag $12.81 = 13 cents each Mars 230 ct. bag $13.88 = 6 cents each Nestle 70 ct. bag $8.98 = 13 cents each 55 pc. Bag $17.96 = 33 cents each Candy Warehouse 210 ct. bag $35 = 17 cents each 157 pc bag $29.50 = 19 cents each Godiva Assorted bite size chocolates 70 pc. Box $90.00 = $1.29 each Russell Stover 18 pc. Box $12.99 = $.72 each (The prices in this chart were taken directly from the candy makers' websites) Questions: 100 ct. bag $19.90 = 20 cents each See's 24 pc. Box $17.50 = $.73 each 1. Why can the big candy makers produce candy that is less expensive per piece? 2. What is the most expensive chocolate per piece based on the tables above? 3. If your favorite candy is M&M's, which are produced by Mars, where would you purchase the least expensive bag based on the chart above? 4. How does where you can purchase the candy affect the price? How does it affect the availability? 1

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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J Copyright © McGraw-Hill Education. Permission is granted to reproduce for classroom use. NAME DATE CLASS Math Practice for Economics Comparing Prices among Competitors networks Background information: The candy industry in the United States could be defined as an oligopoly because just three companies make 99.4% of snack size chocolates. The big three companies are Hershey's, Mars, and Nestle. All three companies use much of the same ingredients, so how do they compete against one another? This is primarily done through price. Directions: The two tables below show what a snack size chocolate costs from the various candy makers, big and small. Read the table below. Then, answer the following questions using the information in the table. 110 ct bag $18.12 = 16 cents each Walmart Amazon Hershey's 215 ct. bag $13.88 = 6 cents each 100 ct. bag $12.81 = 13 cents each Mars 230 ct. bag $13.88 = 6 cents each Nestle 70 ct. bag $8.98 = 13 cents each 55 pc. Bag $17.96 = 33 cents each Candy Warehouse 210 ct. bag $35 = 17 cents each 157 pc bag $29.50 = 19 cents each Godiva Assorted bite size chocolates 70 pc. Box $90.00 = $1.29 each Russell Stover 18 pc. Box $12.99 = $.72 each (The prices in this chart were taken directly from the candy makers' websites) Questions: 100 ct. bag $19.90 = 20 cents each See's 24 pc. Box $17.50 = $.73 each 1. Why can the big candy makers produce candy that is less expensive per piece? 2. What is the most expensive chocolate per piece based on the tables above? 3. If your favorite candy is M&M's, which are produced by Mars, where would you purchase the least expensive bag based on the chart above? 4. How does where you can purchase the candy affect the price? How does it affect the availability? 1
Transcribed Image Text:J Copyright © McGraw-Hill Education. Permission is granted to reproduce for classroom use. NAME DATE CLASS Math Practice for Economics Comparing Prices among Competitors networks Background information: The candy industry in the United States could be defined as an oligopoly because just three companies make 99.4% of snack size chocolates. The big three companies are Hershey's, Mars, and Nestle. All three companies use much of the same ingredients, so how do they compete against one another? This is primarily done through price. Directions: The two tables below show what a snack size chocolate costs from the various candy makers, big and small. Read the table below. Then, answer the following questions using the information in the table. 110 ct bag $18.12 = 16 cents each Walmart Amazon Hershey's 215 ct. bag $13.88 = 6 cents each 100 ct. bag $12.81 = 13 cents each Mars 230 ct. bag $13.88 = 6 cents each Nestle 70 ct. bag $8.98 = 13 cents each 55 pc. Bag $17.96 = 33 cents each Candy Warehouse 210 ct. bag $35 = 17 cents each 157 pc bag $29.50 = 19 cents each Godiva Assorted bite size chocolates 70 pc. Box $90.00 = $1.29 each Russell Stover 18 pc. Box $12.99 = $.72 each (The prices in this chart were taken directly from the candy makers' websites) Questions: 100 ct. bag $19.90 = 20 cents each See's 24 pc. Box $17.50 = $.73 each 1. Why can the big candy makers produce candy that is less expensive per piece? 2. What is the most expensive chocolate per piece based on the tables above? 3. If your favorite candy is M&M's, which are produced by Mars, where would you purchase the least expensive bag based on the chart above? 4. How does where you can purchase the candy affect the price? How does it affect the availability? 1
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