Monopoly for the Potato chip industry Essay Example for Free

Monopoly for the Potato chip industry Essay A monopoly is a company that provides a product or service for which there are no close replacements and in which significant barriers of entry can either prevent or hinder a new company from providing competition (Case, et al. , 2009). Take into consideration the potato chip industry in the Northwest are not only competitively structured but are in long-run equilibriums. The firms were earning a normal rate of returns and were competing in a monopolistically competitive market structure. In 2008, two lawyers quietly bought up all the firms and then began operations a monopoly called â€Å"Wonks†. For them to operate efficiently they had to hire a management consulting firm, which will estimate the different long-run competitive equilibrium. With this change comes several important things to consider that will be effected one being the stakeholders involved, price changes and the market structure to be most beneficial to the new corporation. By consolidating the oligopoly members of the Northwest potato chip industry, located in the United States, the legal professionals created a monopoly (Lindblom, 1948, p. 671). By taking away competition in the region, Wonks would now control their position on the market demand curve, where they can go from the produced quantity, to price point, even to where the product can be sold. Monopoly by definition is, â€Å"exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices,† (Monopoly, 2012). In all actuality a package product like a potato chip could not hold market domination for long. Other manufacturers will transport their product into this region like paying slotting allowances, in order to obtain products for placement on the supermarket shelves. An industry that that comprises just one firm producing a product for which there are no close substitutes are called monopolies (Case, et al. , 2009). Although a monopoly has no other firms to compete with it still constrained by market demand (Case, et al. , 2009). With that said a monopoly must choose both price and quantity of outpost simultaneously because the amount that it will be able to see depends on the prices is sets. However if the price is too high, it won’t sell anything. Thus a monopolist will set prices to maximize profit (Case, et al. , 2009). Stakeholders will both benefit and be hurt by the assembly of the new market domination. The Government will receive more revenues for taxes as the prices are raised and new income is earned for Wonks Industry. In the even that the business looks suspicious they may be forced to respond to a demand from other potato chip producers or consumers, to protect them from inappropriate or unfair trading practices (Lindblom, 1948, p. 671). Some cooperating enterpises like supermarkets or corner stores, are more than likely to see an ability to sell Wonks products at higher prices to consumers, perhaps motivated by higher prices being charged to them by Wonks. Since Wonks are assumed to be the only potato chip industry in town the stores can agree to higher prices. They do this because the demand will be higher if the competition is lower (Lindblom, 1948, p. 671). Consumers on the other hand won’t see any advantage, since the only difference in the market is not having any competition (Case, et al. , 2009). Inevitable price increases will come until a consumer refuses to pay the price. Because of that the company will have to reach a point on the demand curve where they will charge only what the customer will pay for the product (Case, et al. , 2009). Many technological and strategic forces shape market structure, including economies of scale, cost of differences among firms, entrants’ expectations and entry barriers (Bresnahan, 2012, 531). The empirical models of market structure from qualitative chose models of firms’ entry decisions. The models are presumed that we do not observe entrants’ revenues or costs (Bresnahan, 2012, 531). Economic models are used to study market concentration in retail markets for new automobiles. One entry summarizes the competitive cost of entry. The second statistic measures the presence of entry barriers or differences in entrants’ fixed costs (Bresnahan, 2012, 531). Monopolistically competitive firms realize that the decisions they make will be reacted to by other members of the club (Case, et al. , 2009). Pricing will be profitable and comparable, product will be widely available, and vendors will try to attract certain segments with pricing or product offerings (Case, et al. , 2009). It is likely the pro-monopoly potato chip companies made similar margins, their products are found next to each other on super market shelves, and the companies were similarly profitable (Bresnahan, 2012, 531). Enterprises derived from Monopoly ran industries, will stay to look for ways to maximize their profits (Case, et al. , 2009). This will allow products to remain the same, therefore nothing will change in how their were offered. The delivery will be consolidated, but plants not having cost advantage will be left behind in favor of lower cost facilities (Case, et al. , 2009). When a monopoly becomes empowered the product mixes will be reviewed and the low production/less profit generating product will be eliminated (Case, et al. , 2009). In doing so a consumer could find one type of chip when there were actually three different types of chips available. The size of the products being offered, as well as the prices and the volume of the products will be tampered with as a result of market forces not influencing these decisions. (Case, et al. , 2009). Between monopoly and perfect competition are a number of other imperfectly competitive market structures (Case, et al. , 2009). Oligopolistic industries are made of a small number of firms where each has a degree of price setting power. A Monopolistically competitive industries are made up of a large number of firms that acquire price setting power by differentiating their products or by establishing a name (Case, et al. , 2009). The sort term life of a monopoly market forces and consumer demand will all act to make the monopolistically competitive firm the best for both Wonks and for consumers. This can be assessed through the Sherman Anti Trust Act to agencies like the Federal Trade Commission and the Department of Justice. A monopolistic competitive firm enjoys some of the advantages of both monopoly and free enterprise (Case, et al. , 2009). The Chip market has barriers that will act to keep all the players in the chip market safe, and margins will be protected while business are happy with their market share. They can also produce and sell with the knowledge that they will not have to manage production volumes or pricing in their marketplace. Some members of the oligopoly will enjoy harmonious business times (Case, et al. , 2009). Consumers can benefit from limited competition and have product provided at prices the free market will set. product shortages, elimination of marginal products, price spikes will not affect their marketplace (Case, et al. , 2009). The chips will be available where the consumer expects and at price points they expect. The price will decrease or increase which will be industry wide this will keep from the producer from being singled out for price increases (Case, et al. , 2009). A monopoly is an industry with a single firm in which the entry of new firms is blocked. An oligopoly is an industry in which there is a small number of firms, each large enough to have an impact on the market price of its outputs. Firms that differentiate their products in industries with many producers and free entry are called monopolistic competitors. A monopoly is a company that provides a product or service for which there are no close replacements and in which significant barriers of entry can either prevent or hinder a new company from providing competition (Case, et al. , 2009). With this change comes several important things to consider that will be effected one being the stakeholders involved, price changes and the market structure to be most beneficial to the new corporation (Case, et al., 2009). By taking away competition in the region, Wonks would now control their position on the market demand curve, where they can go from the produced quantity, to price point, even to where the product can be sold. Stakeholders will both benefit and be hurt by the assembly of the new market domination. Monopolistically competitive firms realize that the decisions they make will be reacted to by other members of the club (Case, et al. , 2009). Bibliography Bresnahan ,Timothy F. Reiss, Peter C. Entry in Monopoly Markets. The Review of Economic Studies. Vol. 57, No. 4 (Oct. , 1990), pp. 531-553. Case, K. E. , Fair, R. C. , and Oster, S. E. (2009). Principles of Microeconomics. (9th ed). Upper Saddle River, New Jersey: Pearson Prentice Hall. Lindblom, Charles E. The Union as a Monopoly. The Quarterly Journal of Economics , Oxford University Press Vol. 62, No. 5 (Nov. , 1948), pp. 671-697 Monopoly. (n. d. ). Collins English Dictionary Complete Unabridged 10th Edition. Retrieved October 08, 2012, from Dictionary. com website: http://dictionary. reference. com/browse/monopoly.

Masculinity in Men Should Weep by Ena Lamont Stewart and Perfect Days b

Masculinity in "Men Should Weep" by Ena Lamont Stewart and "Perfect Days" by Liz Lochead Both plays portray men under a negative light. In ‘Men Should Weep’ men are the dominant sex and are seen socially of far greater importance. Whereas in ‘Perfect days’ men are easily manipulated and tend to be controlled by the contents of their trousers. ‘Men Should Weep’ is a play which examines how the family unit crumbles under the pressure of poverty. ‘John’ the father of the family is the main male figure throughout the play. His wife Maggie does everything for him and their family. However although there is always a lot to be done John manages not to do anything to help as he would never want to damage his alter ego. Not only doesn’t he help around the house but he is also unemployed. This says a lot about John’s character and implies that he is a selfish self-centred character. ‘I’d an idea a was heid o this hoose’ Although John gives the family no support in anyway he is still quite content in thinking that he is head of the household. Due to the way society was at this time it implied that women had to do as their husbands told them. Once women married they were their husband’s property. Men in that day and age overruled women they were more powerful and a lot of women feared them for various reasons. Domestic abuse was a main reason for this fear. Although a lot of women were domestically abused it wasn’t something they talked about. Mrs Bone one of the neighbours which are used as a vehicle to examine how men have a hold over women in the play is a victim of domestic abuse. ‘I just canna understand a women who lets her man bash her aboot†¦..’ Standing up to men was unheard of you just wouldn’t... ...Brendan doesn’t know about. Grant is seen to give Barbs a lot of happiness but their relationship ends with Grant asking. ‘Why are you so ashamed of me?’ This portrays Grant as a very naà ¯ve character as Barbs was only using him for a bit of fun the relationship as never serious, yet he looked upon it to be. In conclusion the portrayal of men and masculinity in two Scottish plays that I have studied are that they completely dominate the society. They are selfish self-absorbed characters. In â€Å"Men Should Weep† this is portrayed through John a very self-absorbed character. I think the writer’s purpose was to show how bad the conditions were that people use to live in and some people still do. In â€Å"Perfect Days† the men are portrayed to be very stupid and weak characters. I feel that the writer’s purpose was to show that women can cope without men.

A Definition of the Word Trust Essay

When you think of a very special quality everyone should have, trust is the first thing that comes to my mind. Being able to trust someone is very important. We have to trust people in our lives every single day. Trust helps us to have relationships and friendships. Trust is defined as believing in someone in the dictionary. Although this seems simple, it is not that easy to understand and comprehend. Trust has a deep meaning as we continue to grow and change in life. We go through many things that make us change as we live, grow, and experience different challenges. Trust is believing in someone with your whole heart and believing that he or she will take care of it or appreciate it. There are so many types of trust. Three type of trust are: trusting in a family member, trusting in someone special, and trusting in friends. With our family members, we have deep trust. They have been through everything with us and most of deep dark secrets. They have been there for us during the good times and the bad. They watched us go through elementary, middle and high school. Your family has been there to watch you mature and become the person you are today. We have deep trust with them because they took care of us when we were sick or needed someone to cry on. Since we tell them everything, we are the most attached to them. They know when we are acting strange or weird and can tell when we are sad or ecstatic. They share all kinds of memories with us and understand what and where we have been. We let family know almost everything about us. We go back to them when we have nowhere else to go. We trust them with our lives because we know no matter what, that they will always love and care for us. Another kind of trust is trust in someone special or someone that we think is our true love. See more:Â  First Poem for You Essay We tell them everything about us because we believe that they really care. We tell him or her things that we keep to ourselves because we believe that he or she has committed to us. It takes a lot of time to have this kind of trust in a relationship. It takes a lot of time to confide our secrets and personal issues in someone else. When you have such a deep trust with him or her, there should be no secrets. There are no secrets when you truly love each other. This kind of trust is just part of the commitment to each other. In this commitment, you trust each other to be faithful, respectful and to always be there for each other. Another type of trust is the trust between friends. We let our friends know about some of our secrets. We keep the deep dark ones away from them. We also try to hide our past and do not trust them right away because we have had friends in the past betray and hurt us numerous times. We do not trust them right away because we do not know about their life or their past. We do not know where they come from or what they believe makes a good friend. So we as humans hide our feelings and do not trust them. It is only when we spend a lot of time and slowly open up to each other that we become closer and can eventually trust them. Trust cannot be given. It has to be earned. It is not as simple as believing. Trust is earned. When you earn trust, you realize that you can tell him or her anything and they will still be there for you. Trust is not easy to earn though. You have to really believe in the other person and know that they will not let you down. Therefore, trust is very important to humans everywhere. Trust is a huge factor of unity and without it people cannot live in unity. Only you can fully understand trust in your own way. Trust is having a special place in their heart and you having special place for them. Finally, trust is the base for all relationships and friendships. Without trust, we cannot find the true meaning of life. Trust is a must for everything in life.

The History of Disneyland - 1272 Words

In 1955, Disneyland was created by Walt Disney because of his love for cartoons and continued to be built by Roy in 1966 after Walt Disney’s death. Walt Disney was born December 5, 1901in Chicago, Illinois. He did not have the idea childhood due to his family being financially unstable and his father was not the nicest to him. As a child Walt’s father Elias believed in corporate punishment and beat him regularly. Since the family was poor, they had to move around a lot so they could find jobs. Walt and his brothers were forced to get jobs at young ages to help pay the bills for the family. In 1910, Walt moved out to a farm in Kansas City, Missouri. On the farm, Walt would sketch the animals with charcoal and that was when he developed his love for drawing cartoons. In 1919 Walt completed his service in the Red Cross. He then moved back to Kansas City where he got a job in a Commercial Art Studio. While working in the Studio Walt became friends with Ub Iwerks. He would later become the key animator for the Walt Disney studios. Disney and Iwerks formed a short lived business that Disney took the remaining assets and 15,000 from local investors to create laugh-o-gram films and to move out to LA. Once in LA, Disney called Margaret Winkler, a film distributor, to announce his production of the laugh-o-grams. The laugh-o-grams featured a live girl, Alice who interacted with animated characters. In 1923 Winkler agreed to buy half a dozen Alive in Cartoonland films. Later thatShow MoreRelatedDisneyland History1565 Words   |  7 PagesDisneyland s History [pic] One day Walt Disney had a vision. It was a vision of a place where children and parents could have fun together. The more Walt dreamed of a magical park, the more imaginative and elaborate it became. The original plans for the park were on 8 acres next to the Burbank studios where his employees and families could go to relax. Although, World War II put those plans on hold. 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