Monopoly Essays (Examples)

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Retail Monopolies for Communities

Words: 190 Length: 1 Pages Document Type: Essay Paper #: 44385381

Building Community with Wal-Mart
Wal-Mart’s impact on a community’s economic health is unambiguous. It offers a fair amount of benefits to communities that are destitute. Most of these boons are purely in terms of its pricing models. Specifically, Wal-Mart is able to consistently deliver the lowest prices around for its goods. Moreover, it offers a diversity of items that make it ideal for one-stop shopping in impoverished communities. Thus, those who are financially strapped in these neighborhoods are able to pay low prices for virtually everything they need. In this regard, the extent of the supplies which Wal-Mart carries is notable. According to Fitzgerald and Wirtz (2008), the company has been able to provide exceedingly low prices on pharmaceuticals, including its “$4 pharmacy program” which is of immense benefit to those living in penury. Oftentimes, such people are denied access to quality pharmaceuticals because of their low incomes. Wal-Mart is…… [Read More]

References

Fitzgerald, T.J., Wirtz, R.A. (2008). The Wal-Mart effect: Poison or antidote for local communities?

 


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Monopolies of the Four Major

Words: 1372 Length: 5 Pages Document Type: Essay Paper #: 25293551



Both of these moves broke the monopoly. The Canadian government broke Bayer's monopoly and the second company moved into the market, creating a temporary oligopoly. The influx of Cipro from Mexico represented a substitute product, thereby breaking Cipro's American monopoly. This lowered the price of the drug until demand subsided -- note that it was demand that subsided and not supply. This despite the fact that the monopoly-granting patent protection was affirmed in U.S. courts (Bayer, 2002).

Eventually, the market for Cipro returned to equilibrium once the crises was over. By seeing how the market changed when introduced to different stimuli, we can better understand the characteristics of this market.

The market for Cipro -- and in general all patent-protected medicines -- began as a monopoly in equilibrium. Bayer enjoyed substantial pricing power and demand stayed at or near the demand floor as a result. hen demand began to price,…… [Read More]

Works Cited:

No author. (2009). Characteristics of monopolies. Investopedia. Retrieved November 18, 2009 from http://www.investopedia.com/study-guide/cfa-exam/level-1/microeconomics/cfa16.asp

Spurgeon, D. (2001). Canada forced to honour Bayer's patent on ciprofloxacin. British Medical Journal. Retrieved November 18, 2009 from  http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1172996/ 

Bayer. (2002). Bayer's Cipro patent affirmed by U.S. courts. Bayer. Retrieved November 18, 2009 from http://www.investor.bayer.com/user_upload/1320/

No author. (2009). Monopoly, marginal revenue and demand elasticity. AmosWeb. Retrieved November 18, 2009 from http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=monopoly,+marginal+revenue+and+demand+elasticity
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Monopolies vs Competition in a

Words: 1154 Length: 3 Pages Document Type: Essay Paper #: 19799611

Instead, IM began to falter after a series of product failures. As a result, many companies gained market share against IM with some even over taking it; an efficient market took care of the issue.

Yet, another example of why government should not interfere with market structures is the airline industry. After 1978, the airline industry was quickly transformed into an oligopoly market structure where only a half dozen or so companies controlled 90% of U.S. travel. Airlines such as American mostly enjoyed high profits until 2000, taking advantage of limited competition and their ability to price discriminate to increase profit margins for those customers who were willing and able to pay higher prices. eginning in 2000, everything came crashing down for the airlines (pardon the pun). American airlines lost money from 2000 until it finally reaped a small net profit in 2005. The oligopoly market structure that once fueled…… [Read More]

Bibliography

America's Airlines, Flying on Empty (2005, September 6). The Economist. 6 Sept. 2005.

Conigliaro, A., Elman, J., Schreiber, J. And Small, T. "The Danger of Corporate Monopolies." http://cse.stanford.edu/class/cs201/Projects/corporate-monopolies/index.html

Micro. http://library.thinkquest.org/C004323/low/micro2.html

Conigliaro, A., Elman, J., Schreiber, J. And Small, T. "The Danger of Corporate Monopolies." http://cse.stanford.edu/class/cs201/Projects/corporate-monopolies/index.html
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Economic Concepts -- Monopolies and

Words: 624 Length: 2 Pages Document Type: Essay Paper #: 91643942

The composite raw materials of dry cell batteries and the ingredients in vitamins are equally available to any entity wishing to enter those markets. Moreover, there is little to distinguish the products of different manufacturers in those areas besides packaging and branding because the products themselves are essentially identical.

Many consumer services such as hair dressing and auto repairs also represent perfect competition scenarios because the barriers to entering the market are not very high and once in business, the prices commanded by individual proprietors are substantially dictated by prevailing market prices and the traditional dynamic of supply and demand.

Applying Saint Leo University Core Values to Economic Markets

In principle, the core values of Saint Leo University (and of Christianity, more generally) require us to be morally and socially responsible members of the human community. Furthermore, those core values also require us to serve our communities, to contribute to…… [Read More]

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Economics of Public Policy

Words: 4599 Length: 15 Pages Document Type: Essay Paper #: 40440193

Monopolies and Trusts:

Appropriate Areas for Government Intervention?

Capitalism is the economic system that has dominated the United States virtually since the day of its independence. A social and economic system based on the recognition of individual rights; capitalism demands that owners' rights to control, enjoy, and dispose of their own property must be respected. In a capitalist system, the purpose of government is to protect individual economic rights, and to make sure that no one individual, or group may employ physical or coercive force upon any other group or individual. The success of capitalism is well evident. The surpluses that this system produces have enabled individuals to experiment; to create new products, and market new ideas. These private surpluses are traded in a free market in direct competition with other buyers and sellers. Such competition is best represented by the efforts of two or more parties acting independently to…… [Read More]

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Microsoft and U S Anti-Trust Policy

Words: 1623 Length: 6 Pages Document Type: Essay Paper #: 50935364

Although one cannot make a good case for asserting that any one component in and of itself constitutes a monopolistic practice (see, for example how the operating system's prices have remained low in the following graphs), as part of a greater plan to dominate the market, there certainly is a solid case. Although the penalty for Microsoft as a monopoly is hardly extreme, it will certainly serve as a model to both avoid, and watch out for in the future.

Table retrieved at http://www.gsm.uci.edu/~mckenzie/mantra.pdf

End Notes

Bill Gates, the Economist, 6/13/98

Ralph Nader and James Love, Computerorld, 11/9/98

http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft_antitrust_case.html

Economics Resource Center. "Policy Debate. Is Microsoft a Monopoly? http://www.swlearning.com/economics/policy_debates/microsoft.html

http://www.utdallas.edu/~liebowit/book/msmonopoly.html

Economics Resource Center. "Policy Debate. Is Microsoft a Monopoly? http://www.swlearning.com/economics/policy_debates/microsoft.html

McKenzie, Richard. "Microsoft: The Monopoly Mantra." http://www.gsm.uci.edu/~mckenzie/mantra.pdf

http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft.html#the%20monopoly%20question zdnet. "Microsoft to Reveal indows Code. http://news.zdnet.com/2100-3513_22-948381.html

orks Cited

Branyencyclopedia.com. "Microsoft Anti-trust Case." 2004. eb site. Retrieved on September 30, 2004 http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft_antitrust_case.html…… [Read More]

Works Cited

Branyencyclopedia.com. "Microsoft Anti-trust Case." 2004. Web site. Retrieved on September 30, 2004 http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft_antitrust_case.html

Branyencyclopedia.com. "The Monopoly Question." 2004. Retrieved on September 30, 2004 http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft.html#the%20monopoly%20question

Economics Resource Center. "Policy Debate. Is Microsoft a Monopoly?" Web page. Retrieved on September 30, 2004  http://www.swlearning.com/economics/policy_debates/microsoft.html 

Liebowitz, Stan. "Microsoft Monopoly and Consumer Harm. 2001. Retrieved on September 30, 2004  http://www.utdallas.edu/~liebowit/book/msmonopoly.html
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Federal Reserve

Words: 1338 Length: 4 Pages Document Type: Essay Paper #: 45945266

Government Sanctioned Monopoly: The Electric Company: for the Public's Good or Ill?

The defined concept of a monopoly causes many students of economics to assume that any company that engages in monopolistic practices is automatically illegal, according to the Sherman Anti-Trust Act of the United States. A monopoly simply stated is an economic entity that completely dominates one facet of industry or one service industry. It alone sets the price of the good or service it is selling, because it has no competition, in contrast to the perfect competition of a competitive marketplace or even the limited competition of an oligopolistic marketplace. But occasionally the United States government allows certain organizations to behave as corporate monopolies for the public good, such as electrical power.

The reason electrical power companies are one a such a market situation where monopolies are allowed, in fact encouraged (as these utility monopolies are not generated…… [Read More]

Works Cited

King, William. (2005)"Government Ownership." Drexel University. Retrieved 16 Aug 2005 at http://william-king.www.drexel.edu/top/prin/txt/Monch/mon27.html

King, William. (2005)"Natural" Monopoly," Drexel University. Retrieved 16 Aug 2005 at http://william-king.www.drexel.edu/top/prin/txt/Monch/Mon25.html

King, William "Regulation," Drexel University. Retrieved 16 Aug 2005 at http://william-king.www.drexel.edu/top/prin/txt/Monch/mon29.html

Moffat, Michael. (2005) "Economic Definition of a Natural Monopoly," About.com. Retrieved 16 Aug 2005 at http://economics.about.com/cs/economicsglossary/g/naturalmonopoly.htm
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Potato Chip Industry Given That the New

Words: 1735 Length: 5 Pages Document Type: Essay Paper #: 80253666

Potato Chip Industry

Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?

The conventional economic case in opposition to a monopoly is that, since the cost structure is the same, a monopolistic business will manufacture goods at a decreased output in order to charge higher prices. The opposite is true in the case of a competitive industry. In a monopolistic market, not only do consumers suffer but also governmental efficiency is questioned (as a result of lower spending and tax rates) (Krugman and Obstfeld, 2008).

Another view of Monopolistic markets is that, manufacturers mostly take advantage of the economies as they produce and supply products and services on large scales which results in the fall of average total cost of the production. However, this fall in average cost ultimately increases the monopoly profits. Consumers…… [Read More]

References

Basak, S., & Pavlova, A. (2004). Monopoly power and the firm's valuation: A dynamic analysis of short vs. long-term policies. Economic Theory.

Case, K., Fair, R., & Oster, S.M. (2009). Principles of microeconomics. Upper Saddle River, NJ: Prentice Hall.

Krugman, P. And Obstfeld, M. (2008). International Economics: Theory and Policy. Addison-Wesley.

Maurya, M. (2008). Modern microeconomics: Theory and application. Delhi, IND: Mangalam Publishers.
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Pricing Strategies

Words: 3056 Length: 9 Pages Document Type: Essay Paper #: 53473376

market structures and the pricing strategies which are specifically related to each of them. The introductory section of the paper gives an overview of the four major types of market structures and explains the main features which draw distinguishing lines between them. These major types of market structures are perfect competition, monopolistic competition, monopoly, and oligopoly. The second section discusses the pricing strategies which are used by competitors in each of these market structures in order to compete with the other competitors or operate in a profitable and competitive fashion. A case study has also been included which gives a real life example of the market structure and pricing strategies of a specific company. The paper concludes by giving summary and key findings from the whole discussion.

Introduction to Market Structures

Market structure refers to the number of competitors operating in a particular industry and the level or intensity of…… [Read More]

References

Boyes, W.J., & Melvin, M. (2012). Economics, 9th Edition. Mason, Ohio: South-Western Cengage Learning

Gitman, L.J. & McDaniel, C.D. (2009). The Future of Business: the Essentials, 4th Edition. Mason, OH: South-Western Cengage Learning

Hall, R.E., & Lieberman, M. (2010). Micro Economics: Principles and Applications, 5th Edition. Mason, OH: South-Western, Cengage Learning

Mankiw, N.G. (2011). Principles of Economics, 6th Edition. Mason, Ohio: Thomson South-Western
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Market Model Patterns of Change

Words: 990 Length: 4 Pages Document Type: Essay Paper #: 66672230

Google Monopoly

Technology and the internet have brought about many changes in nearly all facets of modern living. As a result, markets and financial systems also have felt the impacts of this massive revolution. Monopolistic trends have been witnessed in the past decade as those organizations who can capitalize on a market, or by creating a brand new market, dominate with product innovation and keen business practices

The purpose of this essays is to exaine Google as company who is exisiting and flourishing in a monopoly market. The serach engine market has produced billions of dollars of revenue for this internet company. This essay will describe the major factors that affect the degree of the competitiveness in this market that Google is currently dominating. The essay will also examine the competitive forces that are trying to vie for business share and competitive advantage in this particular market.

Signs of a…… [Read More]

References

Bort, J. (2013). Steve Ballmer: Google Is a Monopoly and Should Be Investigated by The Governement. Business Insider, 20 Sep 2013. Retrieved from  http://www.businessinsider.com/steve-ballmer-google-is-a-monopoly-2013-9 

Crawford, S. (2012). Is Google A Monopoly? Wrong Question. Bloomberg, 8 July 2012. Retrieved from http://www.bloomberg.com/news/2012-07-08/is-google-a-monopoly-wrong-question.html

Efrati, A. (2013). Google Earnings: Profit Up But Search Ad Prices Drop 6%. The Wall Street Journal, 18 July 2013. Retrieved from http://online.wsj.com/news/articles/SB10001424127887324263404578614290220266684

Goodwin, D. (2013). Google Fails to Gain Search Market Share, Bing Steals From Yahoo. Search Engine Watch, 14 Nov 2013. Retrieved from http://searchenginewatch.com/article/2307115/Google-Fails-to-Gain-Search-Market-Share-Bing-Steals-From-Yahoo
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Economic Costs Are Different From Accounting Costs

Words: 1398 Length: 5 Pages Document Type: Essay Paper #: 6603185

economic costs are different from accounting costs and why a firm might still operate even when there is a loss.

The best way to describe the differnce between economic costs and accounting costs is to break down the economic costs into explicit and implicit costs. 'Explicit costs" are all of those circumstances that require specific outlay of money such as paying employees, paying rent and utility bills.

"Implicit costs" on the other hand are those opportunities and potential profit or loss that oen may have made hade one gone in another direction, but due to having absorbed oneself in one's present business one had to forego. An example of this may be someone deciding not to look for a conventional job in order to start his own home business over the web. The conventional opportunity may have provided him with a certain profit that he now has to forgo being…… [Read More]

Rittenberg Libby and T. Tregarthen. (2009). Chapter 8: Production and Costs. Sections 1-4 Principles of Microeconomics. FlatworldKnowledge.com. Retrieved September 2, 2011 from: click here

Rittenberg Libby and T. Tregarthen. (2009). Chapter 12: Wages and Employment in Perfect Competition. Sections 1-4. FlatworldKnowledge.com. Retrieved September 2, 2011 from: click hereMarket & Market System. 'Perfect competition'. Tutor2U. Available at: http://tutor2u.net/economics/revision-notes/a2-micro-perfect-competition.html

Vargas, L. (2001). "Maquiladoras: Impact on Texas Border Cities," in The Border Economy, Federal Reserve Bank of Dallas. Retrieved on February 18, 2011 from: http://www.dallasfed.org/research/border/tbe_vargas.html
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Play Board Games Today Recognize That Their

Words: 925 Length: 3 Pages Document Type: Essay Paper #: 28203153

play board games today recognize that their development over the history of their existence was, to a great extent, reflective of the society that created and perpetuated them. In other words, a financial-type game created during the depression era would focus on a different general social mindset than one created during the much more financially secure era of the 1980s and 1990s or the digitally conscious world after 2000. The game that started its existence as Life is no exception to this phenomenon.

Created by Milton Bradley in 1860, the game started its existence under the name The Checkered Game of Life. In keeping with the general social view of the time, the game contained a strong moral aspect. The players moved across the board, navigating a number of virtues and vices, with rewards for virtues and penalties for vices. The game was immediately popular at the time, and Bradley…… [Read More]

"Finance," published during the early 1930s, was one of these. It contained similarities with both "The Landlord's Game" and "Monopoly."

The first version of the game under its current title of "Monopoly" saw the light in 1934, during the Depression in the United States. Created by Charles B. Darrow of Germantown, Pennsylvania, the game was turned down for being too long, too complicated, and not having a clear finish. Darrow, however, refused to be discouraged and produced he game on his own. With a printer friend, he sold 5,000 sets of he game to Wanamakers of Philadelphia. This success reactivated the interest of those who turned down the game previously, and he Parker Brothers struck a deal with Darrow. For the game designer, this resulted in his becoming he first game-designer millionaire at the age of 46. Today, many regard Monopoly as the "quintessential" American game, with values like investment and return on investment being encouraged.

Interestingly, a game called "Anti-Monopoly" was invented in 1974 by Ralph Anspach, an economics professor in San Francisco. Similar to Darrow's story, the game gained instant best-seller success after being turned down by established game companies. Several legal battles ensued, however, relating to Anspach's use of the word "Monopoly" as part of his game title. It is somewhat ironic that these battles were fought against big business establishments; monopolists who seek to dominate the market.
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Market Model Patterns of Change Market Model

Words: 1216 Length: 4 Pages Document Type: Essay Paper #: 89375879

Market Model Patterns of Change

Market Model Pattern of Change

The market model industry I research on is the rental movie industry, which the Blockbuster video was the dominant product. This industry has undergone through gigantic market change over many years. Hollywood video is the national competitor; however, they often compete with the local and regional movie rental industries. The use of the new technology has significantly led to the competition among different companies. The market model pattern of change shows that the industry has competitors or not, also, the costs in the company.

Explain the industry and outline the overall wave of change of the specific market structure

The Blockbuster video once dominated the movie rental industry; this has changed enormously due to the competition in the entertainment market. The evolution of the new technology has led to multiple competitions and has changed the consumers' purchase of the rental…… [Read More]

Reference

Blockbuster LLC, 47). Company Overview. Blockbuster Corporate.

Michael, R.J. (2011). Transaction and Strategies; Economics for Management. Mason, USA

The Motion Picture Association of America. (2011). Mpaa statement on strong showing of support for stop online piracy act. The Motion Picture Association of America. Washington, D.C.

Ford, A.(2009). Modeling the Environment, Second Edition.New York: Island Press
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2007 Potato Chip Industry Northwest Competitively Structured

Words: 1716 Length: 6 Pages Document Type: Essay Paper #: 43868554

2007, potato chip industry Northwest competitively structured long-run competitive equilibrium; firms earning a normal rate return competing a monopolistically competitive market structure.

Potato industry

The situation

The competitive business environment of today forces economic agents across the globe to develop and implement a wide array of strategies by which to respond to the challenges of the various stakeholder categories, such as competitors, business partners, employees, customers, the governmental and non-governmental institutions and so on. One particular means by which the companies address these new challenges is that of uniting their forces in order to combine their resources, market shares and capitals and as such become more profitable. Particularly, the economic agents engage in mergers and acquisitions as a means of consolidating leading positions within the market places.

Such a situation was observed within the potato chip industry in Northwest. Up until 2007, the industry was characterized by the presence of…… [Read More]

References:

Mankiw, N.G., Taylor, M.P. (2006). Economics. Cengage Learning EMEA.

Pettinger, T. (2008). Benefits of monopoly power. Economics Help. http://www.economicshelp.org/blog/365/monopoly/benefits-of-monopoly-power / accessed on February 1, 2013

Speegle, M. (2009). Quality concepts for the process industry. Cengage Learning.

(2012). Why is competition policy important for consumers? Website of the European Commission. http://ec.europa.eu/competition/consumers/why_en.html accessed on February 1, 2013
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Gaming Particularly as a Form of Entertainment

Words: 1678 Length: 4 Pages Document Type: Essay Paper #: 98315857

Gaming, particularly as a form of entertainment has evolved throughout time. Over the past centuries gaming has taken many shapes and forms. Usually, the more popular games of the past required strategy and opponent anticipation. As society now moves towards the information age, many games have migrated to a digital format. The migration of gaming from physical games to that of a digital format is not without its strengths and weaknesses. As will be discussed in detail throughout the document, digital gaming offers much strength in relation to its physical counterpart. For one, digital gaming is faster, more convenient, and offers seamless access. However, in some instances it can be impersonal particularly over long distances. Physical gaming, is more personal, teaches proper sportsmanship, and develops closer relationship. Depending on the individual's desired outcome, particular gaming formats offering varying benefits to the consumer. Monopoly in both its physical and digital form…… [Read More]

References:

1) Lieu, Tina (August 1997). "Where have all the PC games gone?" Computing Japan.

2) John Wills (1 October 2002). "Digital Dinosaurs and Artificial Life: Exploring the Culture of Nature in Computer and Video Games." Cultural Values (Journal for Cultural Research) (Routledge) 6 (4): 395 -- 417

3) Williams, J.P., & Smith, J.H., eds. (2007). The players' realm: studies on the culture of video games and gaming. Jefferson, N.C.: McFarland & Co. ISBN 978-0-7864-2832-8
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Market Competition and Regulation the

Words: 2379 Length: 8 Pages Document Type: Essay Paper #: 65812053

Of course, this is a good thing for customers on short-term, but is negatively affects other companies on the market. This is because smaller competitors and especially those that intend to enter the market addressed by IBM find it at least difficult to provide product prices in accordance with those provided by IBM. These smaller companies do not have the ability of reducing their production or operating costs, which does not allow them to introduce competitive prices on the market. This way, they are clearly disfavored by IBM's position and market power.

In addition to this, in a field like it, it is imperative to make continuous investments into the research and development activity. This requires significant capital amounts from these companies. The investment levels that IBM reaches cannot be reached by many of these companies. This makes it difficult for these companies to keep up with IBM and its…… [Read More]

Reference list:

1. Oates, J. (2009). IBM Faces EU Monopoly Probe. Enterprise. Retrieved November 14, 2010 from http://www.channelregister.co.uk/2009/01/20/ibm_eu_probe/.

2. Annual Report (2010). IBM. Retrieved November 15, 2010 from http://www.sec.gov/Archives/edgar/data/51143/000104746910001151/a2195966z10-k.htm.

3. Monopoly: A Brief Introduction (2006). Linux Information Project. Retrieved November 15, 2010 from  http://www.linfo.org/monopoly.html .

4. O'Gara, M. (2010). EC Opens Two Antitrust Investigations of IBM. Retrieved November 15, 2010 from  http://soa.sys-con.com/node/1478919 .
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Wonks it Is the Opinion of This

Words: 1709 Length: 6 Pages Document Type: Essay Paper #: 69118907

Wonks

It is the opinion of this author that equilibrium and efficiency are the ideal aim of corporations in the marketplace because it provides them with opportunity to maximize their profits over the long-term. While it may not necessarily provide for higher than normal profits at all times. While it does for the companies in the competitive marketplace to stay in the game. Having the ability to decide price and preempt market spikes and dips distinguishes nearly perfect competitive markets from monopolistic and monopoly types. In a perfectly competitive and efficient market, prices, choice, quality and customer service is driven by the consumer. This will mean that each item produced by the firm will exhibit prices that are determined by the market which. This will in turn tell the company how much product needs to be produced in order to facilitate equilibrium in the marketplace. Just as most students in…… [Read More]

References

Allen, G. (1976). The rockefeller file: the saintly sinner. Retrieved from  http://educate-yourself.org/ga/RF2chap1976.shtml .

Baseman, K.C., Warren-Boulton, F.R., & Woroch, G.A. (1995). Microsoft plays hardball: the use of exclusionary pricing and technical incompatibility to maintain monopoly power in markets for operating system software.

Antitrust Bulletin, XL (2), 265-315.

Gilligan, T.W., Marshall, W.J., & Weingast, B.R. (1987). Regulation and the theory of legislative choice: the interstate commerce act of 1887.
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Pharma Joan Busfield N D Explores

Words: 1293 Length: 4 Pages Document Type: Essay Paper #: 90770935

Demand is dependent on the frequency of a condition in the population. This number, for most conditions, is generally known. Thus, the equilibrium point can be determined that would deliver the cost recovery and markup pharma companies seek, without allowing costs to escalate to gouging levels. The problem is that once the monopoly has been granted there are no serious cost controls beyond market controls.

There are two problems with this. The first is that without cost controls, it is difficult to improve bargaining power. First, buyers have little bargaining power because most buyers -- even insurance companies -- lack size to bargain over prices. Only Medicare and Medicaid have the size to drive prices down, because pharma companies are dependent on their money even with the monopoly. The second is that there is information asymmetry, which reduces the bargaining power of buyers. Again, only the largest and most sophisticated…… [Read More]

References:

Busfield, J. (no date). Pills, power, people. In possession of the author

Abraham, J. (no date). The sociological concomitants of the pharmaceutical industry and medications. Handbook of Medical Sociology. In possession of the author.

Carmon, I. (2013) How one company controls your breast cancer choices. Salon. Retrieved May 17, 2013 from  http://www.salon.com/2013/05/14/how_one_company_may_control_your_breast_cancer_choices/
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Market Dominance

Words: 663 Length: 2 Pages Document Type: Essay Paper #: 40993660

Antitrust Practices and Market Power

The modern business environment is increasingly characterized by the proliferation of emerging monopolies in various industries. One of the industries that have experienced an increase in budding monopolies is Information Technology, particularly with the growth and development of social media and networks. Technology companies have rapidly developed into monopolies because of the connection between attractive business opportunities. The growth of leading technology companies into monopolies has also been fueled by their efforts to gain and maintain market power. However, some of these companies such as Google, AT&T, Standard Oil, Microsoft, and Facebook have been investigated for antitrust behavior.

Similar to Google, Facebook is company whose growth and development is partly attributed to the failure by Microsoft to strangle it like it did to Netscape a decade before. Facebook's business and operations are entirely built on focusing on developing network effects since the firm's value for…… [Read More]

References

European Commission (2014, October 24). Antitrust: Commission Probes Allegations of Antitrust Violations by Google. Retrieved November 13, 2014, from http://europa.eu/rapid/press-release_IP-10-1624_en.htm

Fox, J. (2013, January). The Web's New Monopolies. Atlantic Monthly, 30-34.

Windrum, P. (n.d.). Back from the Brink: Microsoft and the Strategic Use of Standards in the Browser Wars. Retrieved November 13, 2014, from http://arno.unimaas.nl/show.cgi?fid=292
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Online Antitrust Issues Antitrust Law Is a

Words: 955 Length: 2 Pages Document Type: Essay Paper #: 22167160

Online AntiTrust Issues

Antitrust law is a United States legal code that helps to maintain market competition by regulating anti-competition actions by organizations. The Sherman Act of 1890 was one of the first attempts to restrict large companies who fixed price, output and then manipulated demand to maximize their products. Standard Oil was one of the prime early examples of a company that controlled markets to the point that the government felt was detrimental to the entry of other competitors (Bork, 1993). In our current example, companies like Facebook and Google are being investigated, similar to Microsoft and AT&T, for controlling the Internet search process and/or network effects. This does not stop with Facebook and Google, but moves into many of the giant e-tailers (Amazon, EBay, etc.) that often use predatory or collusive practices to force customers into either advertising on their site, pricing to their scale, or in the…… [Read More]

REFERENCES

Is Microsoft a Monopoly? If so, why does it matter? (2009). Thisnation.com. Retrieved from:

 http://www.thisnation.com/question/027.html 

Monopoly. (January 20, 2005). The Linux Project. Retrieved from:

 http://www.linfo.org/monopoly.html
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Google's Antitrust Behavior and the Benefits of Imperfect Competition

Words: 842 Length: 2 Pages Document Type: Essay Paper #: 90090383

Antitrust Practices and Market Power: Google Antitrust Behavior

Economic theory expresses that competition contributes substantially to the efficient operations of markets, and hence to the improvement of a nation's wealth status. Antitrust laws seek to foster competition in the marketplace and to consequently ensure that the welfare of consumers is maximized through the provision of low-priced high-quality products. This the laws do by preventing the emergence of cartels and monopolies, which impede on competition by creating barriers to entry, with the help of which they are able to obtain market power and consequently drive market prices to favor them. Although monopolies may result from either government action or natural reasons, in which case they are referred to as government and natural monopolies respectively, most monopolies are formed through exclusivity contract arrangements, mergers, acquisitions, and collusion. Antitrust laws work at limiting these.

The Costs of Antitrust Behavior

A number of companies…… [Read More]

References

Antitrust Laws. (2014). Antitrust Law Examples: Are they Helpful to the Free Marketplace? Antitrust.org. Retrieved 19 March 2014 from  http://www.antitrustlaws.org/Antitrust-Law-Examples.html 

 http://library.devry.edu 

Marrs, M. (2012). 30 Facts about the Google Antitrust Case. The Word Stream Blog. Retrieved 19 March 2014 from http://www.wordstream.com/blog/ws/2012/12/06/google-antitrust-case

Marrs, M. (2012). 30 Facts about the Google Antitrust Case. The Word stream Blog. Retrieved 19 March 2014 from http://www.wordstream.com/blog/ws/2012/12/06/google-antitrust-case
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Five Forces Analysis Porter 1980

Words: 1857 Length: 7 Pages Document Type: Essay Paper #: 57406247

Five forces' analysis (Porter 1980)

Five Forces Analysis of Competitive Structure

Michael Porters Five Forces Analysis of Competitive Structure is a paradigm for competitive position, which states that overall a company's profitability may be determined as a measure of the industry it is competing in and its strategic position within that industry (Strategy4u, 2004). According to the model some industries by nature will have a higher profit potential than others, primarily because they have a stronger competitive position and are placed within a more profitable industry.

Porter's Model also suggests that profitability is assessed via several factors, including the following: buyers/customers power, supplier's power, and rivalry among competitors, threat of new entrants into the market, and the threat of substitute products (Strategy4u, 2004). The company or industry will have a greater profit potential the less influential each of these items are. For example, if a company sells a product for…… [Read More]

Bibliography

Business Insight. "Michael Porter's Five Forces Model." 2003. Available: http://www.businessplansoftware.org/porter.asp

Devine, Donald. "Pols Dare Not Challenge Giveaway to Media Gods." Insight on the News, Vol. 13, May 1997. p. 1

Economics A-Z." Economist.com. Retrieved March 27, 2004. Available: http://www.economist.com/research/Economics/alphabetic.cfm?TERM=PROFIT

Fellner, W. "Competition among the Few: Oligopoly and Similar Market Structures." New York: A.A. Knopf, 1949, pp. 55-59
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Market Model Patterns of Change Sir Madam Answers

Words: 883 Length: 3 Pages Document Type: Essay Paper #: 76379430

Market Model Patterns of Change

Sir/Madam, answers attachment page. But write a APA format, citing quotations a APA format. answers fits 3 pages.

The operating system software industry that was dominated by Microsoft was a monopoly till quite some years back when other players came into the market and disrupted the monopoly. These players include Linux with their various operating system software such as edhat and Ubuntu and Apple with their Macintosh operating system.

The general pattern of change in this particular market model was that of monopoly to oligopoly. There are several short-run and long-run behaviors in the monopoly and oligopoly market models. In monopoly, there is only one market player who has full control over the market. However, in oligopoly, there are several market players who hold different market shares depending on their marketing strategies, brand awareness, product specification, product diversification, etc. Soberman & Gatignon, 2005()

The short-run…… [Read More]

References

Brooks, G.R. (1995). Defining Market Boundaries. Strategic Management Journal, 16(7), 535-549.

Chintagunta, P.K. (1996). Investigating the Effects of a Line Extension or New Brand Introduction on Market Structure. Marketing Letters, 7(4), 319-328.

Soberman, D., & Gatignon, H. (2005). Research Issues at the Boundary of Competitive Dynamics and Market Evolution. Marketing Science, 24(1), 165-174.
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Sirius Xm Shift From Dynamic

Words: 2650 Length: 8 Pages Document Type: Essay Paper #: 4103592

It is too early to gauge the results of this initiative, although early results of 1 million downloads in two weeks are positive (Kharif, 2009).

Another competitor is Internet radio. This industry is fragmented, with hundreds if not thousands of operators. It has many of the same content advantages of satellite radio, including the ability to offer a wide range of formats. It is at a content disadvantage, however, because few if any Internet radio stations can afford the high-end talent that satellite radio has established. However, their cost structures are much lower as well, meaning that they can offer their product for free. As of 2006, an estimated 30 million Americans listened to Internet radio each week (Prince, 2006). The industry is at a disadvantage, however, in terms of its ability to measure its listenership. This in turn makes it difficult for Internet radio providers to compete for advertising…… [Read More]

Works Cited:

AFP. (2008). Sirius, XM Merger Completed, Creating U.S. Satellite Radio Giant. AFP. Retrieved August 6, 2009 from http://afp.google.com/article/ALeqM5gWpqqvwgW00Q9TWlFXCqFL7ccIxw

Holmes, Robert. (2008). Sirius XM Expects Slower Subscriber Growth. TheStreet.com. Retrieved August 6, 2009 from http://www.thestreet.com/story/10446392/sirius-xm-expects-slower-subscriber-growth.html

Moritz, Scott. (2008). Howard Stern may have a Sirius Dilemma. Fortune. Retrieved August 6, 2009 from http://money.cnn.com/2008/06/26/technology/moritz_sirius.fortune/index.htm

Guttenberg, Steve & Moskovciak, Matthew. (2005). Satellite Radio. CNet. Retrieved August 6, 2009 from http://reviews.cnet.com/4520-6466_7-5068442-1.html
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Industrial Economic Regulations According to the Organization for

Words: 1128 Length: 3 Pages Document Type: Essay Paper #: 91303075

Industrial/Economic egulations

According to the Organization for Economic Cooperation and Development (OECD) defines economic regulations (industrial regulations) as "intervening directly in market decisions such as pricing, competition, market entry, or exit ("Economic regulations," 2002). The main reason for economic regulation is because it is permits the straightforward businessman to succeed in the economy and decrease business relations within the economy from being broken by the illegal activity that takes place (Black, 2010). However, within the economy the market has four different structures that industries are classified under that the government uses to help control the advantages and limitations of supply and demand. The goal of the four structures is to look at how it "affects the outcomes in the market with impacts on the motivations, opportunities, and decisions of economic buyers and sellers through their behaviors within market competition" states Fischer (n.d.). The OECD defines social regulations as an impact…… [Read More]

References

Black, W. (2010, January 11). Inside the fed's secret war on good regulation. Retrieved from http://www.sagepub.com/upm-data/23879_Page_1_19.pdf

Boyer, P. (2001). Federal regulatory agencies. The oxford companion to United States history. Retrieved May 18, 2011 from http://www.encyclopedia.com/doc/1O119FederalRegulatoryAgencies.html

Department of Trade, Federal Trade Commission. (2011). Ftc guide to the antitrust laws. Washington, DC: Government Website. Retrieved from http://www.ftc.gov/bc/antitrust/antitrust_laws.shtm

Economic regulations. (2002, July 31). Retrieved from  http://stats.oecd.org/glossary/detail.asp?ID=4639
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Organization Behavior Economic Business Policy

Words: 2511 Length: 8 Pages Document Type: Essay Paper #: 38238921

Both these techniques have an inverse relationship with each other. If the Government chooses to make its operations more efficient, it will be able to utilize the same level of capacity efficiently and increase the level of production. On the other hand, it can make more investments to increase the capacity so that the current and projected demand can be met effectively (Landskroner 2001).

The best way to manage the demand and capacity is to get the maximum output from the minimum amount of inputs. But if the Government increases the capacity and does not bring efficiency in its operations, a significant portion of its available capacity will go in vein. Similarly, if it wants to control the level of demand in the market, it will have to introduce new alternative products for the consumers so that they switch to those products. However, this step requires a considerable time and…… [Read More]

REFERENCES

Connolly, S., & Munro a., 1999, Economics of the Public Sector. Harlow: Pearson Education

Graham, L., 2008, Internal controls: guidance for private, government, and nonprofit entities. Hoboken: John Wiley & Sons

Hull, M., 2012, Network Utility Economics: A Basic Text. U.K: John Wiley

Landskroner, R.A., 2001, the nonprofit manager's resource directory. 2nd Edition. New York: John Wiley and Sons
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Economics Business' Micro Economics Required Write Assignment

Words: 726 Length: 2 Pages Document Type: Essay Paper #: 96886786

Economics usiness' (Micro Economics) required write assignment response question: Compare contrast ' forces' analysis competitive structure S-C-P (Structure Conduct Performance) models perfect competition, monopoly oligopoly.

Five Forces vs. SCP model

The SCP model of market development suggests that there are three basic market structures which exist, that of perfect competition, monopoly and oligopoly. In a model of perfect competition, consumers are extremely powerful. "Perfect competition is characterized by many buyers and sellers, many products that are similar in nature and, as a result, many substitutes. Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand" (Monopolies, oligopolies, and perfect competition, 2012, Investopedia). It is very easy for new firms to enter the marketplace, and very easy for consumers to shift their purchasing power to other entities that offer them a better deal. There is little advantage to operating…… [Read More]

Bibliography

Monopolies, oligopolies, and perfect competition. 2012. Investopedia. Accessed:

 http://www.investopedia.com/university/economics/economics6.asp #ixzz25PGv2SOV

[3 Sept 2012]

Porter's five forces. 2012. Tutor2U. Accessed:
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Economic Situation in the U S as Compared

Words: 1311 Length: 4 Pages Document Type: Essay Paper #: 59224956

economic situation in the U.. As compared to five (5) years ago. Include interest rates, inflation, and unemployment in the analysis.

Between 2009-2011, 6.1million workers were displaced from jobs that they held for at least 3 years. In 2012, the statistics for employment seemed to be more optimistic: whilst 1,340 mass layoff actions occurred in July, the Bureau of Labor tatistics (http://www.bls.gov/) reported that productivity increased 2.2% in the nonfarm business sector in the second quarter of 2012 whilst in manufacturing, productivity grew 0.1%. During this same year (2012), demand for employment also grew in wholesale trade and retail trade, whilst employment in the food and drink sector remained constant. The jobless rate as a whole this year has also decreased in a large number of areas whilst from April to July alone employment rose from 2.1 million to 19.5 million.

In June, 2012, the Federal Reserve ystem noted that…… [Read More]

Sources

Antitrust Acts and Laws

 http://www.referenceforbusiness.com/encyclopedia/A-Ar/Antitrust-Acts-and-Laws.html#ixzz25kaHoiON 

Bureau of Labor Statistics

 http://www.bls.gov/
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Economic Situation U S Compared 5 Years Ago

Words: 866 Length: 2 Pages Document Type: Essay Paper #: 97675243

economic situation U.S. compared (5) years ago. Include interest rates, inflation, unemployment analysis. 2.Propose (2) strategies federal government implement encourage people spend money order create employment opportunities.

Q1.Analyze the current economic situation in the U.S. As compared to five (5) years ago. Include interest rates, inflation, and unemployment in your analysis.

The unemployment rate in January 2012 was 8.3%. The relative improvement in the economy has caused many to pressure Fed chairman Ben Bernanke to raise interest rates above their current record lows to curb inflation, although Bernanke still feels that the economy is fragile enough to justify keeping rates extremely low. "The unemployment rate has fallen for five straight months and employers have added an average of 200,000 net jobs per month from November through January" (Crustinger 2012). Until recently, the Fed has believed that there has been little risk of inflation due to an excess in the money…… [Read More]

References

Barger, Melvin. (1984). What killed Ma Bell? AT&T Divestiture. Porticus. Retrieved:

http://www.porticus.org/bell/whatkilledmabell.html

Block, Sandra. (2012). Inflation could lead to a modest tax cut. USA Today. Retrieved:

 http://www.usatoday.com/money/perfi/columnist/block/story/2011-09-19/inflation-tax-brackets/50469496/1
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Market Structure and Pricing Strategies

Words: 3091 Length: 9 Pages Document Type: Essay Paper #: 49191873

market structures in detail and analyses the pricing strategies that the firms have to undertake when they operate in different regimes. The case study on Toyota is considered next, which indicates that firms competing in various structures does not only have to focus on price and quantity ceteris paribus, they also have to consider external and internal variables that have a bearing on these decisions.

Introduction to Market Structures

Market structures are important parts of economic theory as they model market behavior that can help economists explain activities in industry with ease. Market structures, hence are basically models that define market behavior with respect to certain criteria so that it becomes simpler to compare events in real life to the postulated scenario as described in theory in order to be able to determine casualties and to define optimal strategies that firms operating in different market structures can use.

There are…… [Read More]

References

Bennett, D., Hagiwara, Y., & Kitamura, M. (2011, September 5). Toyota Bets on Japan. Bloomberg Businessweek, pp. 70-73,. Retrieved from http://web.ebscohost.com/ehost/detail?sid=fbe40510-c02e-4a4c-afc8-b21dbb1445c3%40sessionmgr11&vid=1&hid=10&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN=60477158

Cusumano, M.A. (2011). Technology Strategy and Management Reflections on the Toyota Debacle. Communications of the ACM, 54 (1), 33-35.

John Petersen (2011). Bernstein and Ricardo Report: Cheap Will Beat Cool in Vehicle Electrification. Retrieved from  http://www.altenergystocks.com/archives/2011/11/bernstein_and_ricardo_report_cheap_will_beat_cool_in_vehicle_electrification.html 

Lipsey, R.G., & Chrystal, K.A. (2007). Economics. Oxford: Oxford University Press. Retrieved from http://books.google.com.pk/books?id=HgXWV8JMC10C&printsec=frontcover&dq=Economics+lipsey&hl=en&sa=X&ei=qPIuT9DdPM7wrQeQ_LzYDA&redir_esc=y#v=onepage&q=Economics%20lipsey&f=false
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National Broadband Network There Is

Words: 982 Length: 3 Pages Document Type: Essay Paper #: 12908282

Development of the infrastructure is slow, as politicians have difficulty making decisions and moving forward efficiently. ired broadband is at the heart of the plan, yet most of the world is already moving towards a largely wireless platform for broadband, and consumer technology is supporting this (smartphones, tablet computers). NBN Co. is proposing itself as a wholesaler. However, the current proposal would put NBN in a monopoly position. Monopolies have little incentive to make investments in innovation, and have excessive pricing power. Government would need to ensure that pricing was not abusive, creating inefficiency. ithout government intervention in the wholesale market, NBN would be able to charge monopoly rents for its broadband, to the detriment of service providers and consumers -- everybody would pay more for broadband than they would if they were in a competitive market. In addition, if having a modern telecommunications infrastructure is the social goal of…… [Read More]

Works Cited:

Cowen, T. (2008). Public goods. The Concise Encyclopedia of Economics. Retrieved May 7, 2011 from  http://www.econlib.org/library/Enc/PublicGoods.html 

Yoshino, N. & Nakahigashi, M. (2000). The role of infrastructure in economic development. Center of Excellence/Keio University. Retrieved May 7, 2011 from  http://web.econ.keio.ac.jp/staff/dikamiya/pdf00/seminar/1205.pdf
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Maximizing Profits in the Present Day and

Words: 1421 Length: 4 Pages Document Type: Essay Paper #: 40758425

Maximizing Profits

In the present day and age, several market structures are existent in the global economy. Each and every market structure is distinct in its way of being run and the power that it has over market prices, trend setting and demand. The key element that helps in distinguishing between different market structures is mainly the amount of competition present between several producers of a single type of product. In this paper, the characteristics and means of maximizing profits alongside the barriers to enter the market will be seen and the role of each structure in an economy will be explained.

Markets in which there is a high amount of competition (mostly referred to as competitive markets) are such that no single producer or consumer has the ability to alone influence the price of products in them. This means that if a producer tries to exploit consumers by raising…… [Read More]

References:

Grant, S. (2008). Economics student book. Heinemann Lipsey, R.G. (2007). Economics. Oxford University Press.

Taylor, M.P. (2011). Economics. Cengage Learning EMA.

Titley, B. (1989). Economics. Oxford University Press.
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Economic Analysis the First Apple

Words: 1651 Length: 6 Pages Document Type: Essay Paper #: 38902855

However, by utilizing these tactics Apple has been able to build sales and revenue even in the face of rapidly-declining market share. The demand curve for Apple and Android are as follows. Note demand is still high for the iPhone in terms of number of customers, but it is losing ground to Android as the latter brings its average price down.

The future of the iPhone is a little bit less certain. The product has a much higher market share in wealthy markets than it does in emerging markets, because the company has focused more marketing and there is better capacity to purchase. However, the pace of innovation has slowed and as the industry matures Apple is also facing a situation where it must make a pricing decision again. The market is moving to oligopoly again, despite the persistent presence of Blackberry and Microsoft as bit players in the market.…… [Read More]

Works Cited:

Beggs, J. (2013). Absolute and comparative advantage. About.com. Retrieved April 23, 2013 from http://economics.about.com/od/Gains-From-Trade/ss/Absolute-and-Comparative-Advantage.htm

Investopedia. (2013). Monopolistic competition. Investopedia. Retrieved April 23, 2013 from  http://www.investopedia.com/exam-guide/cfa-level-1/microeconomics/monopolistic-competition.asp 

Thierer, a. (2011). How iPhones and Android ushered in a smartphone pricing revolution. Forbes. Retrieved April 23, 2013 from http://www.forbes.com/sites/adamthierer/2011/07/10/how-iphones-and-androids-ushered-in-a-smartphone-pricing-revolution-2/
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Economic General

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 66901875

Antitrust Case

Economic general

Antitrust practices and market power: Microsoft

One of the most famous and prolonged cases involving antitrust allegations was that of the suit brought about by the Department of Justice against the Microsoft Corporation. It was alleged that Microsoft's act of 'bundling' specific applications such as its web browser, Internet Explorer and Windows Media Player to make them the default setting of its Windows operating system resulted in anticompetitive practices within the software industry. The European Union also waged an antitrust case against Microsoft, and its findings against the company were even more broad and sweeping than in the United States. As a result, in the EU, Microsoft "was not allowed to offer any technological, commercial, or contractual term or inducement to make the bundled version the more attractive, and a monitoring trustee was required to ensure that the unbundled version of Windows works as well as…… [Read More]

References

Economides, N., & Lianos, I. (2009). The elusive antitrust standard on bundling in Europe and in the United States in the aftermath of the Microsoft cases. Antitrust Law Journal, 76(2), 483-567.
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Antitrust Case Against Microspft Government

Words: 936 Length: 3 Pages Document Type: Essay Paper #: 73822917

(discuss them and then choose one that would possibly work)

One possible solution for this anti-trust problem, which is currently proposed by authorities, is that Microsoft should allow its competitors to access its information database. In this way, the competition could build new applications that are compatible with the Microsoft operating systems - Windows so would not be affected by the Microsoft strategy to develop an integral and connected line of products. Another solution could be the individual taxation of Microsoft due to its market power. In this case, the taxes that could be as high as 0% from the total profits and would unfairly tax the advantage taken in time by Microsoft. The money for this tax could be otherwise used by Microsoft for development plans, or why not for resolving social aspects - the poverty reduction of third world countries.

Another answer proposed by analysts in this case…… [Read More]

1) Lemos, Robert. CNET News, 2003-06-10. Retrieved on 2007- 02-05

2) Mace, Michael. www.pa.msu.eduarchived from apple.com, February 9, 1995

3) Rebello, Kathy. www.businessweek.comBusiness Week, 1997-06-15. Retrieved on 2007- 02-05
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Merger Activity Due in Large

Words: 7696 Length: 27 Pages Document Type: Essay Paper #: 57391917

Finance-dominated proponents also maintain that boom economic periods generate a more varied divergence of valuations that fuel merger activity (Medlen 2007). In this regard, Medlen concludes that, "Taken collectively, these understandings may explain some of the merger activity in booms, but they involve certain asymmetries that undercut their explanatory power. High stock valuations allow stock to be utilized as currency and collateral for takeovers; yet stock booms also make targets expensive" (p. 202). Moreover, despite the commonly held perception that mergers are a "quick and dirty" way to grow a business and achieve organizational goals, there remains a lack of convincing empirical evidence in support of this perception (Medlen 2007). As Medlen points out, an "anomalous fact about mergers concerns the lack of evidence that mergers are profitable. This fact begs the question: why then are mergers carried out with such frequency and with such large levels of capitalization?" (p.…… [Read More]

References

Ahern, K.A. & Weston, J.F. (2007). 'M&as: the Good, the Bad, and the Ugly.' Journal

of Applied Finance, vol. 17, no. 1, pp. 5-7.

Babbie, E. (1990). Survey Research Methods (2nd ed.). Belmont, CA: Wadsworth

Publishing Company.
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Economics Most Histories Blame the

Words: 2660 Length: 8 Pages Document Type: Essay Paper #: 47608765

The effect of all of this is to drive away those who actually worked the land because they loved it, replacing them with hired hands running machinery, neither of which is likely to be kind to the land.

Monopoly

Perhaps the most familiar form of business except for perfect competition, monopoly situations result when there are many potential buyers for a product or service, but only one seller.

In the Grapes of rath, a monopoly situation is created as the banks decide to remove tenant farmers, preferring to sell the land to a single large conglomerate of landowners or even a single corporation.

Steinbeck could hardly have painted a harsher picture of this monopoly-in-progress, with scenes of huge bulldozers razing all evidence of the tenant farmers from the land. However, he also notes that the 'monopolization' of the Great Plains was seemingly an event bigger even than those landowners who…… [Read More]

Works Cited

Cassuto, David. "Turning Wine into Water: Water as Privileged Signifier in 'The Grapes of Wrath'.." Papers on Language & Literature 29.1 (1993): 67+. Questia. 19 July 2005 http://www.questia.com/.

Steinbeck, John. The Grapes of Wrath. New York: Viking Penguin, 1939.
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Economic for Business

Words: 2780 Length: 8 Pages Document Type: Essay Paper #: 22418309

Economics for Business

The company that I am studying is Apple. The company is a designer and marketer of consumer electronics, specifically computers, smartphones, tablets, mp3 players and software. The company has experienced a strong run of great performance in recent years, but it has not always been that way for Apple. The company struggled considerably, especially in the 1990s, before breaking loose. The key thing about Apple is that it has always sought to differentiate itself. Over the course of the past ten years, we have seen most of Apple's former competitors in the personal computer space leave the industry. The reason is that the computer industry is moving towards the strategic hell of perfect competition.

Strategy Hell

The term strategic hell reflects the condition of perfect competition. In the real world outside of economics textbooks, few markets can be truly understood to be perfectly competitive. Perhaps a vegetable…… [Read More]

References

Lunden, I. (2013). Android at 82% share, Samsung a flat leader. TechCrunch.. Retrieved November 25, 2013 from  http://techcrunch.com/2013/11/14/gartner-456m-phones-sold-in-q3-55-smartphone-android-at-82-share-samsung-a-flat-leader/ 

Mourdoukoutas, P. (2013). Apple's most important branding lessons for marketers. Forbes Retrieved November 21, 2013 from http://www.forbes.com/sites/panosmourdoukoutas/2013/10/05/apples-most-important-branding-lesson-for-marketers/

MSN Moneycentral. (2013). Apple Inc. MSN Moneycentral. Retrieved November 22, 2013 from http://investing.money.msn.com/investments/stock-income-statement/?symbol=AAPL

Riley, G. (2013). Strategic choice: Apple: Differentiation v scale. Tutor2U.net. Retrieved November 21, 2013 from http://www.tutor2u.net/blog/index.php/business-studies/comments/strategic-choice-apple-differentiation-v-scale
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Home Midterm ECO54 Spring 2008

Words: 2350 Length: 9 Pages Document Type: Essay Paper #: 83856237

Smith believed this would lead to inefficiency.

However, unlike Plato, Smith did not believe that the ideal republic should decide from birth what occupation an individual should follow, rather that the individual must freely choose by his or her own will, how to direct his or her energies and labor in the most efficient and self-interested fashion, which would ultimately result in the advancement of the nation as a whole. Plato's social structure, although not based upon birth, was still based upon a monopoly of philosophers dictating the lives of others according to their state-generated power, unlike Smith's more democratic ideals. Smith's analysis more perfectly echoes that of illiam Petty, who stressed how breaking down tasks, like Smith's pin-manufacturing plant, could generate higher levels of efficiency in economic production. Petty also placed a strong emphasis, as did Smith, upon the vital need of a nation to practice free trade.

Question…… [Read More]

Works Cited

Adam Smith (1723-90)." The Concise Encyclopedia of Economics. 1999. 8 Mar 2008.  http://www.econlib.org/library/Enc/bios/Smith.html 

David Ricardo." The New School. 8 Mar 2008. http://cepa.newschool.edu/het/profiles/ricardo.htm

Economics." Microsoft® Encarta® Online Encyclopedia. 2007. 8 Mar 2008. http://encarta.msn.com.

Mill, John Stuart. Principles of Political Economy. Library of Economics and Liberty.
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Micro Economics Chapter Summaries Microeconomics Chapter Summaries

Words: 1329 Length: 4 Pages Document Type: Essay Paper #: 97259239

Micro Economics: Chapter Summaries

Microeconomics Chapter Summaries

Summary 'Chapter 7: Monopoly'

Market power refers to the ability of one of more firms in an industry to impact the pricing and supply of products and services for general consumers (Hall & Lieberman, 2010). A firm holding market power experiences a downward slopping demand curve. Monopoly is one of the four major types of market structures (Boyes & Melvin, 2009). It refers to the dominance of only one supplier (or producer) over the entire market (McEachern, 2012). Since a monopolist firm does not have any direct competitor in its industry, it sets prices and supply options itself. Unlike other market structures, monopoly has only one market demand curve, i.e. The demand curve for the monopolist firm and for its industry are same (Shiller, 2009).

Being the only supplier in the industry, this firm can impact the prices of products or services by…… [Read More]

References

Arnold, R.A. (2010). Economics, (9th Ed.). Mason, OH: Cengage Learning.

Besanko, D., Braeutigam, R.R. & Gibbs, M. (2011). Microeconomics, (4th Ed.). Hoboken, N.J: John Wiley.

Boyes, W.J. & Melvin, M. (2009). Economics, (8th Ed.). Eagan, MN: South-Western.

Hall, R.E. & Lieberman, M. (2010). Economics: Principles & Applications, (5th Ed.). Mason, OH: Cengage Learning.
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Mercantilist School To What Extent

Words: 2521 Length: 8 Pages Document Type: Essay Paper #: 91620383

Therefore, a country which is able to produce one good with a lower opportunity cost than another country, should specialize in producing that good which will turn into a competitive advantage.

However, when assessing this theory at the level of international trade, it is harder to depict the competitive advantages. The model may seem to be unrealistic. The resources employed in real world are not restrained to labor and the markets in which the goods are supplied are not perfectly competitive. Moreover, there may be countries able to specialize in the production of one or several goods and other countries unable to find any competitive advantage. Other disadvantages are the ones assembled when trying to form a general framework of the labor costs. Due to the fact that these costs are similar within the boundaries of a certain country and vary from one country to another, it is problematical to…… [Read More]

Bibliography

LaHaye, Laura. "Mercantilism." The Concise Encyclopedia of Economics. The Library of Economics and Liberty. 11 Mar. 2007 http://www.econlib.org/library/enc/Mercantilism.html

Mercantilism." The Columbia Encyclopedia, Sixth Edition. 2001-05. 11 Mar. 2001 http://www.bartleby.com/65/me/mercanti.html

Biography of Adam Smith (1723-90)." The Concise Encyclopedia of Economics. The Library of Economics and Liberty. 11 Mar. 2007 http://www.econlib.org/Library/Enc/bios/Smith.html

Korten C., David. "The Betrayal of Adam Smith." When Corporation Rule the World, 2nd Edition. 11 Mar. 2007  http://www.pcdf.org/corprule/betrayal.htm