...Differentiating Between Market Structures Econ 365 2/4/14 In the world today, the cell phone has become an item of necessity, according to the Pew research center “Cell phones are now being used by 91% of adults (Cell Phone Ownership ((2014)). This high demand has had a great effect on the wireless industry but with frequent advances in technology only a few organizations can even keep up. Among those few organizations is Verizon Wireless or Verizon Communications. Verizon is headquartered in New York and provides customers with service in more than 150 countries ("Verizon", (2013)). Verizon has become a leader in the wireless market, providing the nation’s largest 4G LTE network and being the largest U.S. wireless company. Although Verizon leads in wireless service, the organization does compete with three other main wireless carriers; Sprint, T-Mobile, and AT&T. This competition helps us to better understand the market structure at which Verizon competes in, oligopoly. Oligopoly is a market form in which a market or industry is dominated by a small number of carriers. Other characteristics that make us aware that Verizon operates in an oligopoly market structure are; high barriers, interdependence, and non-price competition. There are high barriers in the wireless industry making it difficult for entry for new businesses, this allows only a few carriers to dominate the market. Interdependence is extremely present within an oligopoly market structure, in the...
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...Supply and Demand Simulation To identifywhich portions of the microeconomicsand macroeconomics principles are which in this simulationwe have to understand the difference between the two economical concepts first. Microeconomics is the study of the goods and services of the world and how they are affected by ways of the world. For example gas prices go up during the summer time for a reason other than oil companies wanting to make record high profits. The gas prices go up during the summer because we tend to travel more in the summer than we do during the winter. Families go on vacation more the weather is nicer nationwide, therefore the amount of outside events has increased drawing us out of the house and on the roads. Macroeconomics is the study of the economy as a whole. This concept takes into account the effect that unemployment is having on the housing market, how does the increase or decrease of taxes effect the spending habits of people, and the most recent favorite of us as Americans, how nationalized healthcare will increase or decrease the amount of small businesses in the near future. Now that we fully understand the differences between micro and macroeconomics it will make is easier for me to tell you which two concepts in the simulation were micro and which two were macro. One of the first concepts that we learn about in the simulation is the concept of supply and demand and what effect it has on the rate of rental of the apartments. Learning that we have...
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...Does your career plan include a world of lifelong success? Program of Professional Studies THE CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA We see more than numbers. Choose a career that places you on the path to lifelong success. It’s all about opportunity. Accounting professionals can work in any sector, anywhere in the world. And when you choose CGA, you’ll gain the leadership, problem-solving and technical skills that are sought after by organizations in the private, public and not-for-profit sectors. The CGA Program of Professional Studies gives you the tools to succeed in business, no matter where your career takes you. You’ll enter the workforce with the applied knowledge and demonstrated expertise that employers want, including specialized technical knowledge, sectorspecific competencies, problem-solving skills and the ethical integrity to lead. CGA’s competency-based curriculum is simply your best way to prepare for a rewarding career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected...
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...For the exclusive use of C. Milne, 2016. S w 910B04 OLD MULE FARMS David M. Currie and Lorena Mošnja Škare wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of Business Foundation, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail cases@ivey.uwo.ca. Copyright © 2010, Richard Ivey School of Business Foundation Version: (A) 2010-05-03 In March 2009, Donna and Jim Green looked with dismay at the financial statement summarizing the performance of Old Mule Farms for the year 2008. Old Mule’s cow-calf operation had experienced another year of losses. Especially frustrating was that the losses occurred despite the Greens’ multiple efforts to improve the farm’s efficiency. While these efforts improved performance compared to 2007, they were not sufficient to overcome the decline in calf prices, so the operation continued...
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...The Effects of a Hurricane on the Principles of Supply and Demand Econ 365 Jacob Owen The principles of supply and demand state that supply is the availability of a good or service desired by a consumer. Demand is a measure of the public’s desire for that good of service. As a rule of thumb, if something is very popular, or very necessary, it generally will be in high demand. The demand for a specific good or service can literally change overnight. Case in point when a hurricane enters the Gulf of Mexico, certain products become in high demand especially along the United States Gulf coast. Sudden increases in demand can have both positive and negative results for the producer as well as the consumer. Some of the products that will suddenly go into high demand are batteries, flashlights, gasoline, gas cans, canned food etc. With this sudden increase in demand, producers will likely order and stock more of these items than they normally would. This sudden change in demand makes the usual supply decrease. This results in the suppliers having to increase their production numbers. With a sudden increase in demand and decrease in supply this sometimes leads producers to increase their prices as a result. While the price increase is sometimes necessary to handle the sudden change in demand, some produces engage in “price gouging,” that is artificially inflating prices to take advantage of the increased demand which is highly illegal. Sometimes, when a hurricane...
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...* Skip to Navigation * Skip to Content TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory * Join * Search * Browse * Saved Papers ------------------------------------------------- Top of Form Search Bottom of Form * Home Page » * Computers and Technology Unit 4 Research Paper In: Computers and Technology Unit 4 Research Paper A port expander is a device that allows one port on a computer system to connect to multiple devices. There are two forms of port expanders: internal and external. An internal expander has a connection inside the computer, typically on the motherboard and the only part the user sees is the expansion plate that contains multiple ports. As for an external device, it plugs into the existing port and then has multiple places to connect. The most common versions are used for USB and Ethernet ports. There are numerous types of ports that have available port expanders for them. Here is a list that I have compiled: * Ethernet port expander * Firewire port expander * DB-25 port expander * Serial port expander * USB port expander * VGA port expander * DVI port expander * SCSI port expander * Audio port expander * Video port expander * Microphone port expander * RS-422 port expander * Modbus serial port expander * SATA port expander * SAS port expander * SSD port expander Port expanders are generic devices that can be used with any computer as long as the computer...
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...2012-2013 PAWNSHOPS AND BEHAVIORAL ECONOMICS 193 PAWNSHOPS, BEHAVIORAL ECONOMICS, AND SELF-REGULATION SUSAN PAYNE CARTER* AND PAIGE MARTA SKIBA** I. Introduction Pawnbroking is the oldest source of credit.1 There is growing public interest in day-to-day pawnbroking operations, as evidenced by the popularity of reality shows such as “Pawn Stars” and “Hardcore Pawn.”2 Television viewers’ curiosity about an old credit institution may be due to the fact that 7% of all U.S. households have used pawn credit.3 Although pawnshops predate biblical times, researchers know surprisingly little about this ancient form of banking and its customers.4 We fill this gap by documenting detailed information on pawnshop loan repayment and default, and by discussing how pawnshop borrowers’ behavior is consistent with various behavioral economics phenomena. Pawnshop loans are small, short-term, collateralized loans typically used by low-income consumers. The borrower leaves a possession, or “pledge,” as collateral in exchange for a loan, typically of $75–$100.5 Interest rates vary by state and range from 2 Assistant Professor, Office of Economic and Manpower Analysis, United States Military Academy. susan.carter@usma.edu. The views expressed in this paper do not necessarily represent those of the United States Military Academy, the United States Army, or the Department of Defense. ** Associate Professor of Law, Vanderbilt University...
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...2012-2013 PAWNSHOPS AND BEHAVIORAL ECONOMICS 193 PAWNSHOPS, BEHAVIORAL ECONOMICS, AND SELF-REGULATION SUSAN PAYNE CARTER* AND PAIGE MARTA SKIBA** I. Introduction Pawnbroking is the oldest source of credit.1 There is growing public interest in day-to-day pawnbroking operations, as evidenced by the popularity of reality shows such as “Pawn Stars” and “Hardcore Pawn.”2 Television viewers’ curiosity about an old credit institution may be due to the fact that 7% of all U.S. households have used pawn credit.3 Although pawnshops predate biblical times, researchers know surprisingly little about this ancient form of banking and its customers.4 We fill this gap by documenting detailed information on pawnshop loan repayment and default, and by discussing how pawnshop borrowers’ behavior is consistent with various behavioral economics phenomena. Pawnshop loans are small, short-term, collateralized loans typically used by low-income consumers. The borrower leaves a possession, or “pledge,” as collateral in exchange for a loan, typically of $75–$100.5 Interest rates vary by state and range from 2 Assistant Professor, Office of Economic and Manpower Analysis, United States Military Academy. susan.carter@usma.edu. The views expressed in this paper do not necessarily represent those of the United States Military Academy, the United States Army, or the Department of Defense. ** Associate Professor of Law, Vanderbilt University...
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...(non-fuel unit cost) % change Break-even weight load factor, % Weight load factor achieved, % OPERATING PROFIT, $ billion % margin NET PROFIT, $ billion % margin 2001 307 -6.4 239 39 -2.3 1640 -6.0 28.8 2.2 -4.4 1.9 319 0.5 43 13 24.7 276 39.4 0.9 61.3 59.0 -11.8 -3.8 -13.0 -4.2 2002 306 -0.5 238 38 -1.0 1639 8.7 31.4 2.7 0.3 -9.5 311 -2.7 40 13 25.1 270 39.0 -1.0 61.9 60.9 -4.8 -1.6 -11.3 -3.7 2003 322 5.2 249 40 1.4 1691 3.9 33.5 2.8 3.3 2.0 323 4.0 44 14 28.8 279 39.2 0.7 60.9 60.7 -1.4 -0.4 -7.5 -2.3 2004 379 17.7 294 47 16.7 1888 7.9 36.7 4.2 1.0 7.4 376 16.2 65 17 38.3 311 39.5 0.6 61.9 62.5 3.3 0.9 -5.6 -1.5 2005 413 9.1 323 48 7.0 2022 0.4 37.6 3.4 2.7 2.4 409 8.9 91 22 54.5 318 38.6 -2.1 62.0 62.6 4.3 1.0 -4.1 -1.0 2006 465 12.6 365 53 5.4 2124 3.9 39.8 4.0 7.4 6.9 450 10.1 107 24 65.1 343 40.1 3.9 61.3 63.3 15.0 3.2 3.6 0.8 2007 510 9.6 398 59 5.7 2281 4.0 41.8 3.8 3.0 5.9 490 8.8 134 27 73.0 356 39.6 -1.4 60.8 63.3 19.9 3.9 12.9 2.5 2008 564 10.5 439 64 0.4 2271 -1.2 40.5 1.7 9.9 10.2 573 16.9 189 33 99.0 384 42.4 7.2 63.8 62.8 -8.9 -1.6 -16.0 -2.8 2009E 483 -14.3 369 49 -2.1 2228 -9.8 36.9 -2.2 -14.0 -14.2 484 -15.4 113 23 62.0 371 43.1 1.6 63.4 63.2 -1.2 -0.3 -9.9 -2.1 2010F 560 15.9 427 64 7.7 2395 19.8 44.2 3.2 7.3 7.9 539 11.4 137 25 79.0 402 43.7 1.4 63.2 65.6 20.6 3.7 8.9 1.6 2011F 591 5.5 448 67 4.9 2508 5.3 46.4 2.6 0.0 0.0 575 6.6 145 25 79.0 430 44.0 0.8 63.3 65.0 15.4 2.6 5.3 0.9 Notes: 2001-2008 data sourced from ICAO, OEF and Platts. 2006 net profit...
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...Week 5 Individual Paper Mark Le ECON 212 October 5th, 2011 LAURENCE HAGAN Week 5 Individual Paper Vietnam is a country with a history of a major war and bright future ahead for its people. The country’s GDP is on a constant growth with $97.18Billion in 2009 (World Bank) to $102Billion in 2010 (Bureau of East Asian). All this growth is thanks to many foreign investments in domestic enterprises, especially “Green” technology. Vietnam is currently exporting nearly $15 billion of commodities to the US and importing nearly $3.5 billion from the US (VIR). The country’s export a total of $71.6 billion in 2010 with principal exports of “crude oil, garments/textiles, footwear, fishery and seafood products, rice (world’s second-largest exporter), pepper (spice; world’s largest exporter), wood products, coffee, rubber, and handicrafts” (Bureau of East Asian). Vietnam has major export partners, including the US, EU, Japan, China, and South Korea. Imports in Vietnam are currently at $84 billion, mainly machinery, oil and gas, iron and steel, garment materials, plastics. Vietnam major import partners include China, Japan, Taiwan, South Korea, and the EU (Bureau of East Asian). The exchange rate for the Vietnamese money, called Dong, is continuing to suffer from inflation. Vietnam ended 2010 with an inflation rate of 9.19% and ended the first quarter of 2011 with an inflation rate of 12.79% (Bureau of East Asian). This is apparent when comparing the Dong to US dollar. This time...
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...Running Head: Market Structures Differentiating between Market Structures Simulation University of Phoenix ECO 365 08/19/2013 There are many advantages of the supply and demand forces on the market and the way it operates. An important advantage is their market regulating utility. They help encourage competition and charge more and therefore make bigger overall profits. Consumers are willing to pay more for better products even though this trend differs in other market structures. One of the major limitations of supple demand forces is a socially undesirable outcome as in the case of a market structure that is characterized by monopoly. This is where one single firm will control all production resources and therefore has exploitative capabilities in the terms of pricing and promoting. One example can be that of an electric company that has a virtual monopoly over production resources of a specific region and charge whatever prices they want. Coca Cola Co. is ran in a beverage industry that is highly concentrated oligopolistic. They compete directly with another major company, Pepsi Co. These two companies hold over 98% of the beverage market in all of the United States. Both Coca Cola Co. and Pepsi Co. compete globally don’t have much competition knocking on either of their doors. Cadbury-Schwepps owns the remaining 2% of the US market share but it’s a struggle for them to try and expand share as well as getting more attention. Oligopolistic market...
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...ECON 203 MCQs Click Link Below To Buy: http://hwaid.com/shop/econ-203-mcqs/ Part I (6 points: 2 points each) All of the questions in this Part refer to the market for canned tuna fish. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Assume that the supply and demand curves are normally shaped. In each question, at most one curve will shift. Use the following code to indicate each of your answers: a. Demand increases. b. Demand decreases. c. Supply increases. d. Supply decreases. e. Neither demand nor supply changes. -------------------------------------------------------- 1. The wages of workers on tuna fishing boats rise by 10%. 2. The price of canned sardines falls by 50%. 3. The government bans the use of the most efficient nets for catching tuna. Part II (6 points: 2 points each) All of the questions in this Part refer to the market for new automobiles produced by a firm known for high quality. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Assume that the supply and demand curves are normally shaped. In each question, at most one curve will shift .Use the following code to indicate each of your answers: a. Demand increases. b. Demand decreases. c. Supply increases. d. Supply decreases. e. Neither demand nor supply changes. -------------------------------------------------------- ...
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...ECO/365 Principles of Microeconomics Professor Alex Gialanella December 9, 2013 Good APA compliant cover In this paper I am going discuss the simulation I viewed in Week 2, which is about a city called Atlantis. It is a well maintained and has everything to offer its residents/tenants a decent number of parks, close to highways, clean litter free sidewalks and a low crime rate. The GoodLife Management is the property management firm that handles seven apartment complexes in the city of Atlantis. They have over 2,000 two-bedroom apartments and only a 28% vacancy rate, it’s very essential to use the supply and demand curve to determine the equilibrium in the market. It is also important to understand movements along the shift of the demand and the supply curves to determine how the equilibrium is established after the shift in curves. Supply and Demand are the most used words in the world of economics today, according to Colander , D. (2010). Supply and demand is a critical part of microeconomic and macroeconomics and it assist in determining the economy. This is an excellent, clear intro – good level setting and use of reference As for the principles of microeconomic shown in the simulation is supply and demand. In the simulation they wanted to lower the cost of rent in order to lower the percentage of vacant apartments to 15%. This would raise the revenue for the management firm, at one point the employment rate, population and housing demand...
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...Microeconomics and the Laws of Supply and Demand Terry Cerami ECO/365 September 21, 2015 David Flesh Microeconomics and the Laws of Supply and Demand Utilizing the supply and demand simulation ("University Of Phoenix", 2014), I will illustrate two macroeconomic and two microeconomic principles demonstrated in the simulation and expound on why these principles are categorized as microeconomic or macroeconomic. Also, one shift of the demand curve and one shift of the supply curve from the simulation will be identified with explanations for the shifts. Further, I will analyze the influence on decision making in correlation with quantity and the equilibrium of price and how these concepts of demand and supply can be pragmatic in everyday business or within the current work environment. Finally, I will explain how price elasticity of demand has an immense impact on products pricing strategy and its purchase from the consumer. Macroeconomic and Microeconomic Principles The first macroeconomic principle demonstrated within the Supply and demand Simulation is Price Ceilings. Price Ceilings ensue through legislation as laws are enacted establishing a lawful ceiling of how high the cost of a product can be ("Price Ceilings", n.d.). When a price ceiling is established, there is further demand than what is available at the equilibrium price. This is a result of there being a sufficient supply in quantity of demand than supplied quantity. For example, in the simulation the...
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...potential. Domino’s Pizza was incorporated in 1963 and has been franchising since 1967. A traditional Domino’s store is located in shopping centers and/or strip malls with appropriate parking for delivery vehicles and walk-in customers for carry-out services. The initial investment of a traditional store is approximately $119,500 (low estimation). To determine if a Domino’s Pizza can be opened in Morehead City, North Carolina one must estimate consumer demand for this area. Some of the variables that can be considered are population, price of pizza, and income per household. The population of Morehead City is 8,780 people; let’s assume that 40% are eating pizza, so the demand will be 3,512 people want pizza. Considering there are 365 days in a year we can assume that nine households are eating pizza each day, with an average of 3 people in the household let’s assume they normally order two pizzas, a total of 18 pizzas per day. The average income of a household in Morehead City is $28,737 and the average price of a Domino’s Pizza is $7.99 for a large (with no coupons or specials). We also know based on the city data collected that the population is growing at a rate of 1.4% per year, which is a positive and important aspect to a prospective business for growth when considering the area for location. Using a regression formula, the formula is based on: x...
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