The focus will be on examining Porter’s Five Forces as a tool for looking at the pressure on profits. Specifically, how does Porter’s analysis examine the stress on profits from all directions and all dimensions of a firm’s environment? You will be applying this tool by specifically looking at the market structure in which a firm completes. You will need to be able to distinguish an oligopoly from a monopolistic competitive market structure.
There are two groups of firms below.
For each group determine and explain if the group is monopolistic competitive or an oligopoly. You need to specify for both in which market structure the firms operate.
Then choose one of the firms from one group. Using a Porter’s analysis what are the threat to profitability?
The idea that transactions in a marketplace work like an invisible hand is to some extent the idea that when a person chooses to buy an item at a given price, they are happy with the deal. There is no coercion. If the person really does not like the deal, they simply walk away.
This week’s discussion will give you an opportunity to explore direct and indirect price discrimination within the context of a hypothetical scenario.
Use the following hypothetical scenario as the basis for your response:
Address the following in your discussion post:
In your Managerial Economics textbook, we consider a sequential-move game in which an entrant is considering entering an industry in competition with an incumbent firm (see Figure 15-1). There are several possibilities of how this sequential game will be played. We want to use the Froeb rule of “look ahead and reason back.”
For your discussion post, use Figure 15-1 from the textbook as your starting point to address the following: 15.1 Sequential-Move Games
In sequential-move games, players take turns, and each player observes what his or her rival did before having to move. To compute the likely outcome of a sequential game, we look ahead and reason back, or predict what will happen tomorrow in response to each of our possible actions today. By anticipating how the other player will react tomorrow, we can accurately forecast the con- sequences of her own moves. We represent sequential games using the extensive or tree form of a game, familiar to anyone who has ever used a decision tree. Consider the simple two- move game illustrated in Figure 15.1. An entrant is deciding whether to enter an industry currently controlled by a single incumbent firm. Beginning on the bottom of the left branch of the tree, we see that entry can lead to two dif- ferent outcomes depending on how the incumbent reacts. The incumbent has two choices: accommodate entry or fight it.
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