• When do firms have opportunity to charge different prices to different consumers? Example from a...

• When do firms have opportunity to charge different prices to different consumers? Example from a real world situation.

There are four key types of market structures in the market economy: perfect competition, monopoly, oligopoly, and monopolistic competition. Each of the market structures has its own key distinguishing features. The marketing strategies of firms also differ from market structure to market structure.

1. Pick a specific industry from one of the market structures and explain how it would function and maximize profit.

2. We are daily exposed to a number of advertisements on TV, in radio and in other places. Which market structures are the most dominant in the advertisement industry? Why?

Expert Solution

Rahul Sunny answered 2 years ago

Is it fair that retailers can charge different prices to different consumers for essentially the same...

Is it fair that retailers can charge different prices to different consumers for essentially the same product?

Firms often employ price discrimination. They try to segment their markets and charge different prices to...

Firms often employ price discrimination. They try to segment their markets and charge different prices to customers with different demand elasticities. The theory is simple. Identify those customers with highly-elastic demands (they're the ones who are very sensitive to price and will be driven into the arms of your competitors by high prices), and cut prices. Next, identify customers with less-elastic demands (they're the ones who are insensitive to price and are likely to buy anyway), and drive the price...

Identify price-takers and price-setters firms and Explain how much control do they have over the prices they charge?...

Identify price-takers and price-setters firms and Explain how much control do they have over the prices they charge? Explain your answer with adding real examples, either from experience or from other business in Oman country, to enrich answer quality and to connect theory with practice.

Price discrimination exists when a business is able to charge different prices to different customers based...

Price discrimination exists when a business is able to charge different prices to different customers based on their willingness to pay. Answer the following questions regarding price discrimination with Apple. 1. What good or service do they sell? 2. Which degree of price discrimination do they engage in? (1st, 2nd or 3rd) 3. How are they able to determine which customers are willing to pay more for the good or service? Explain in detail. 4. How are they able to...

how do different environments or external factors affect both firms and consumers ?

When do firms compete more - when brand equity is an important factor in consumers' decision...

When do firms compete more - when brand equity is an important factor in consumers' decision making or when brand equity is not so important (i.e., consumers focus on product features before thinking of brand name?) Both of these are true None of these are true Firms compete more when brand equity is not important Firms compete more when brand equity is important

Q4:why do businesses charge different prices for the same product or service... rationale?

Please list and provide a short description and example of the different types of firms when...

Please list and provide a short description and example of the different types of firms when forecasting revenues

Please list and provide a DESCRIPTION and EXAMPLE of the different types of firms when forecasting...

Please list and provide a DESCRIPTION and EXAMPLE of the different types of firms when forecasting revenues.

-What is opportunity cost and what is an example of this from your life? -Do you...

-What is opportunity cost and what is an example of this from your life? -Do you think student loans offer an attractive rate for “capital” for students to attend college? Why or why not? -Do you have student loans? What do you think about the interest rates? -What affect do the current interest rates, which are in essence determined by The Federal Reserve Bank, have on the cost of capital to firms and consumers?

Question