please draw a firm diagram to illustrate Foxtel’s business in 2021. Make sure to clearly and adequately label your diagram. Fast forward to the present day (October 2021), Australian consumers now have a wealth of choices of content offered by Foxtel, Netflix, Stan, Amazon Prime, Apple TV, Disney+, Optus Sport, and the
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Is below market is Oligopoly? Could you please draw a firm diagram to illustrate Foxtel’s business in 2021. Make sure to clearly and adequately label your diagram.
Fast forward to the present day (October 2021), Australian consumers now have a wealth of choices of content offered by Foxtel, Netflix, Stan, Amazon Prime, Apple TV, Disney+, Optus Sport, and the recently launched Paramount+ (launched in August 2021).
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- Refer to the Front Page to answer two questions. FRONT PAGE Pricing Disney+ Disney decided it wanted to provide streaming services directly to customers, rather than renting its library of films and television shows to other streaming services like Netflix. But how successful would a streaming service be? In other words, what did the demand for a "Disney+" streaming service look like? Disney knew that the number of subscribers would depend not just on the attractiveness of the Disney archives, but also on the subscription price. After doing some market research, Disney decided to launch Disney+ at a price of $6.99 a month (or $69.99 per year). When Disney+ was launched on November 12, 2019, 10 million people signed up on the first day-a resounding success!At a time when demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker Kellogg's was quoted as saying, “. for the past several years, our individual company growth has come out of the other fellow's hide." Kellogg's has been producing cereal since 1906 and continues to implement strategies that make it a leader in the cereal industry. Suppose that when Kellogg's and its largest rival advertise, each company earns $0 billion in profits. When neither company advertises, each company earns profits of $10 billion. If one company advertises and the other does not, the company that advertises earns $52 billion and the company that does not advertise loses $2 billion. For what range of interest rates could these firms use trigger strategies to support the collusive level of advertising? Instruction: Enter your response as a percentage rounded to the nearest whole number. percentQ3 The Competition Bureau in Canada wants to increase competition and reduce monopoly power. Thus it it worries about industry concentration Assume that Canada's production of plastic sheds, which we further assume is an oligopoly. Collusive control over the price of plastic sheds in Canada may permit oligopolists in the industry to: Multiple Choice advertise and take advantage of the competitors in the Canadian plastic shed industry. reduce uncertainty, increase profits, and possibly limit entry of new firms in the Canadian plastic shed industry. increase product demand, increase product supply, and lower cost in the Canadian plastic shed industry. achieve economies of scale, reduce costs, and prevent price cheating in the Canadian plastic shed industry. use new technology, achieve economies of scale, and get government subsidies for the Canadian plastic shed industry.
- FRONT PAGE Pricing Disney+ Disney decided it wanted to provide streaming services directly to customers, rather than renting its library of films and television shows to other streaming services like Netflix. But how successful would a streaming service be? In other words, what did the demand for a "Disney+" streaming service look like? Disney knew that the number of subscribers would depend not just on the attractiveness of the Disney archives, but also on the subscription price. After doing some market research, Disney decided to launch Disney+ at a price of $6.99 a month (or $69.99 per year). When Disney+ was launched on November 12, 2019, 10 million people signed up on the first day-a resounding success! Source: News reports, October-December 2019. Suppose Disney+ changes its monthly subscription price from $7 to $9 per month. Graphically show the impact of this price change in the following markets: a. Popcorn, pizza, and other movie snacksConsider the markets for each of the following goods. For each market, tell whether you think the market is best characterized as (a) perfectly competitive; (b) monopoly; (c) oligopoly; or (d) monopolistically competitive. Clearly explain your reasoning for each case, drawing on the assumptions that underpin each kind of market. (a) Papaya (b) Organic milk (e) Music (d) Gasoline in Hawaii (e) Cable TV (E) Cellular phone service (g) Fresh pokeIn this chapter’s Headline, we learned that Tom Jackson benefits by announcing well in advance his new marketing plan to target businesses. Suppose you are an executive at Morton’s and by lucky happenstance you learn of Tom’s plans before he implements them. What plan of action should you take? Explain
- Karl Lipton is the marketing communications coordinator for a major electronics manufacturer. He is assigned with charting out a communications strategy for a new range of mobile phones developed by his company. How will Karl's communications strategy look over the course of the mobile phones' life cycle?Question 9 You have been appointed the new managing director of BOTCHPOWER, which has bought a major stake in Ghana’s ECG and you company is described as a monopolistic competitive firm in the supply of electricity in Ghana. In effect, your firm has the power to discriminate between domestic consumers and commercial consumers of electricity in Ghana. To help you price your services appropriately to maximize profit, you engaged an economist who estimated the demand function for both Domestic consumers and Commercial consumers as: ? = 48 – 0.4? Domestic Consumers -- ? = 20 – 0.1? Commercial Consumers (( Where ?- and ?( are the respective kilowatts (KW) of electricity consumed by Domestic Commercial consumers and ? and ? are their respective prices per kilowatt. If the total cost -( of this BOTCHPOWER company for producing a kilowatt of electricity is given as ?? = 70 + 80?, where ? = ?- + ?(: a) What price will BOTCHPOWER charge per kilowatt to maximize profits: i. With discrimination…The following graph represents a monopolistically competitive firm in long-run equilibrium. Place the black point (cross sign) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Next, place the grey star on the graph to indicate the point where the LRAC reaches a minimum. PRICE PER UNIT (Dollars) 500 450 400 350 300 250 200 150 100 50 MC 0 0 50 LRAC MR Demand 100 150 200 250 300 350 400 450 500 QUANTITY (Units) Monopolistically Competitive Outcome Minimum of the LRAC The long-run equilibrium price is $ (Hint: Use the graph to find the numeric value of the price at equilibrium.) The long-run equilibrium quantity is units. The LRAC curve is at its minimum at a quantity of The long-run equilibrium price is units. the marginal cost of producing the equilibrium output. ?
- Mary owns a mobile boutique. Several of her local competitors have recently closed their businesses, which has resulted in a shift in her perceived demand curve. The following tables show her old and her new perceived demand. Original Demand Curve Price Quantity TC $20 0 $1,000 $18 100 $1,100 $16 200 $2,000 $14 300 $4,000 $12 400 $7,000 New Demand Curve Price Quantity TC $25 0 $1,000 $23 100 $1,100 $21 200 $2,000 $19 300 $4,000 $17 400 $7,000 How much does Mary's price change after her competitors leave the market? Question 21 options: decrease by 3 increase by 3 increase by 4 decrease by 4Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph shows Fantastique's demand curve, marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit or loss.Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph shows Fantastique's demand curve, marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit or loss. PRICE (Dollars per bike) 500 450 400 350 300 250 200 100 50 MC 0 0 ATC MR Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is earning shops in the industry than in long-run equilibrium. Monopolistically Competitive Outcome Profit or Loss ? profit, which means there are Now consider the long run in which bike manufacturers are free to enter and exit the market. Using your results from above, show the…
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