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H9EMGMT Economics For Management

tag 0 Download 8 Pages / 1,885 Words tag 03-06-2021

Questions:

Assignment Brief: 
Please answer each bullet in each of the following questions. Answers are short answers (approximately 50 words each). 
All work must be referenced correctly using Harvard Referencing System. 
The Importance Of Competition In Markets
1.The US Department of Justice has recently announced that StarKist has agreed to plead guilty to a charge of price-fixing in relation to a conspiracy with officials from other tuna companies to fix the price of canned tuna that ran from at least late 2011 to late 2013 and came to light in 2015.  The company faces a potential fine of $100 million.  The canned tuna market in the US has long been dominated by the following three companies: StarKist, Chicken of the Sea and Bumble Bee.  Bumble Bee agreed to plead guilty in May 2017 and paid a fine of $25 million.  Chicken of the Sea has not been charged because prosecutors say the company exposed the scheme and co-operated with the investigation.
Describe the facts of this case in relation to what the companies involved were doing to implement the anti-competitive scheme.
Raw tuna is an input for the production of canned tuna.  Explain your expectation with respect to what the normal relationship should be between the price of raw tuna and the price of canned tuna.  Explain the relationship between the price of raw tuna and the price of canned tuna in this case and describe how this relationship played a role in the anti-competitive conspiracy being exposed.
Describe how Merger & Acquisition activity among suppliers in this market impacted competition and played a role in the price-fixing activities being exposed.
Describe how the collusion and price-fixing in this case impacted consumers in the US market.
2.The Australian Competition and Consumer Commission recently announced an inquiry into price competition among providers of foreign exchange services to consumers and small businesses.
Describe how the cost of sending money overseas from Australia in relation to other G20 countries played a role in this inquiry being commenced.
Identify the four largest banks in Australia and the three largest online money transfer companies and describe how complaints about these firms played a role in the inquiry being commenced.
Describe generally how the inquiry will be conducted with specific reference to the range of issues to be addressed.
3.The European Union regulates Competition among suppliers to European consumers.  This competition policy is designed to apply rules to make sure companies compete fairly with each other.
Describe the reasons why the EU has adopted these policies and the tools available to fight anti-competitive behavior.
4.In 2017, the European Commission imposed a €2.4 billion penalty after finding that Google had used its dominant search engine to skew the market in favor of its internet shopping service.  Google is appealing against this decision.
Describe the EU’s allegations against Google in this case and explain why these activities would have a negative effect on competition and consumers if true.
Describe Google’s defenses and explanations in response to the EU’s case.
5.The European Union has recently imposed a record penalty on Google in the amount of €4.34 billion over “serious illegal behavior” to secure the dominance of its search engine on mobile phones.  Google is appealing against this decision.
Describe the EU’s allegations against Google in detail and explain why these activities would have a negative impact on competition and consumers if true.
Describe Google’s defenses and explanations in response to the EU’s case.
Supply And Demand In The Market And Prices
6.Swiss luxury conglomerate Richemont, owner of Cartier, Piaget, Vacheron Constantin and other brands, revealed recently that it is struggling to emerge from a sharp pullback from Chinese consumers that shocked the industry a few years ago.  A major part of the problem is that a change in policy by the Chinese government to reduce corruption has resulted in a sharp decline in demand for luxury Swiss watches.
Describe the importance of demand from Chinese consumers to the manufacturers of luxury Swiss watches, include estimates of the percentage total production that ends up being sold in the Chinese market.
Describe the new policies implemented by the Chinese government to limit “gifting” of watches to grease the wheels of Chinese bureaucracy and business and the corresponding impact this has had on demand for luxury Swiss watches in the Chinese market.
Describe the steps that can be taken by Richemont and other suppliers of luxury Swiss watches to support prices, protect profit margins and buttress the perceived value of timepieces that can cost more than a new car.
7.As we discussed previously in class, concerns around oil supply drove the price of oil to a four-year high above $85 per barrel in early October.  Since then, oil prices have fallen below $70 per barrel as concerns around oil supply have faded away.
Describe the circumstances around the fact that concerns about the supply of oil have recently faded away.  At a minimum, be sure to describe the circumstances related to the following oil producing countries:
United States
Saudi Arabia
Iraq
Iran
Russia
Consumer Preferences And Products
8.Apple is one of the world’s most successful and profitable companies.  The company has recently announced a series of updates across its product lines along with new pricing strategies that seem designed to extend product life cycles and maintain growth in revenue and profit margins as the products mature.
Describe the Product Life Cycle and its various stages.
Describe steps taken by Apple to extend the Product Life Cycle for each of the following products:
Macs
iPhones
iPads
iWatches
Describe the pricing strategies being implemented by Apple and explain the likely impact on quantities demanded for the following products:
Macs
iPhones
iPads
iWatches
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My Assignment Help. (2021). Economics For Management. Retrieved from https://myassignmenthelp.com/free-samples/h9emgmt-economics-for-management/product-lifecycle-management.html.

My Assignment Help (2021) Economics For Management [Online]. Available from: https://myassignmenthelp.com/free-samples/h9emgmt-economics-for-management/product-lifecycle-management.html
[Accessed 29 November 2022].

My Assignment Help. 'Economics For Management' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/h9emgmt-economics-for-management/product-lifecycle-management.html> accessed 29 November 2022.

My Assignment Help. Economics For Management [Internet]. My Assignment Help. 2021 [cited 29 November 2022]. Available from: https://myassignmenthelp.com/free-samples/h9emgmt-economics-for-management/product-lifecycle-management.html.


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