MKTPRFLs3
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MKTPRFLs3

Course Number: ECO 336, Fall 2009

College/University: Chester

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PROFILE OF MARKET A MARKET DESCRIPTION: Market A is moderate size, with good growth prospects. Consumers consider different brands to be usable substitutes if prices are sufficiently different, but they do have favorite brands, which they will buy if prices are close to one another. Entry costs for market A are fairly low, and vary only somewhat across firms. Production is capital intensive. PRODUCTION COST...

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OF PROFILE MARKET A MARKET DESCRIPTION: Market A is moderate size, with good growth prospects. Consumers consider different brands to be usable substitutes if prices are sufficiently different, but they do have favorite brands, which they will buy if prices are close to one another. Entry costs for market A are fairly low, and vary only somewhat across firms. Production is capital intensive. PRODUCTION COST INFORMATION: Mean Entry Cost: $50000 Standard Deviation: $3000 Mean Cost of one unit of Capacity: $800 Standard Deviation: $150 Mean Marginal Cost: $50 Standard Deviation: $10 Percentage Depreciation of Capital in Period After Construction: 30% Percentage Depreciation of Capital in Following Periods: 10% Maximum Useful Life of Capacity: 4 periods Scrap Value As a Percentage of Original Capacity Cost: 51% Inventory Cost: 10 per unit per period. Elasticity of MC with respect to output for output > available capacity: 20 DEMAND INFORMATION: The following demand information is for period 1. Growth or decline of the market in subsequent periods would affect aggregate quantities. For the tables below, it is assumed that each firm has production plus inventory to supply the demand for its product at the indicated prices: Information on Market Demand and the Effect of Brand Proliferation: If there had been the indicated number of firms each charging the same indicated price, the cell shows the approximate market output that would have resulted: Number of Firms in Market 1 2 3 4 Price 250 2047 2214 2383 2343 350 1020 1195 1314 1319 450 502 549 679 653 Information on Brand Substitution:} With two firms in the market, if firm 1 charges the price shown in the left-hand column and firm 2's price differs by the amount shown in the top row, then the cell indicates the approximate market share of firm 1. Price Differential of Firm 2 -20% -15% -10% -5% Price of Firm 1 250 14% 21% 29% 39% 350 10% 17% 25% 39% 450 7% 12% 26% 36% Market Growth Rate in Period 1: 10%. Standard Deviation of Change in Growth Rate: 2.0 percentage points. PROFILE OF MARKET B MARKET DESCRIPTION: Though market B is quite large, there hasn't been growth lately, and that isn't likely to change any time soon. The upfront entry costs for this market are moderate, but the capital investment after that is very low, as production is labor intensive. There is quite a bit of brand differentiation, so a firm can hold a significant share of the market even with a price noticeably above its competitors'. Costs of production also vary significantly across firms. PRODUCTION COST INFORMATION: Mean Entry Cost: $50000 Standard Deviation: $3000 Mean Cost of one unit of Capacity: $50 Standard Deviation: $10 Mean Marginal Cost: $220 Standard Deviation: $40 Percentage Depreciation of Capital in Period After Construction: 10% Percentage Depreciation of Capital in Following Periods: 5% Maximum Useful Life of Capacity: 10 periods Scrap Value As a Percentage of Original Capacity Cost: 57\% Inventory Cost: 50 per unit per period. Elasticity of MC with respect to output for output > available capacity: 5 DEMAND INFORMATION: The following demand information is for period 1. Growth or decline of the market in subsequent periods would affect aggregate quantities. For the tables below, it is assumed that each firm has production plus inventory to supply the demand for its product at the indicated prices: Information on Market Demand and the Effect of Brand Proliferation: If there had been the indicated number of firms each charging the same indicated price, the cell shows the approximate market output that would have resulted: Number of Firms in Market 1 2 3 4 Price 200 7822 8297 8485 8486 400 4833 5475 5636 5944 600 2688 3188 3549 3737 Information on Brand Substitution:} With two firms in the market, if firm 1 charges the price shown in the left-hand column and firm 2's price differs by the amount shown in the top row, then the cell indicates the approximate market share of firm 1. Price Differential of Firm 2 -20% -15% -10% -5% Price of Firm 1 200 37% 39% 43% 47% 400 29% 34% 41% 46% 600 24% 30% 38% 45% Market Growth Rate in Period 1: 0%. Standard Deviation of Change in Growth Rate: 1.0 percentage OF points. PROFILE MARKET C MARKET DESCRIPTION: This is a small market now, but will probably grow quite rapidly. The outlook is promising, but there is very substantial uncertainty; growth could also slow down quite rapidly. There is very high differentiation between brands, with consumers having strong preferences. Production is capital-intensive and costs are similar across brands, so no firm is likely to have a significant cost advantage over its rivals. Entry costs are moderate. PRODUCTION COST INFORMATION: Mean Entry Cost: $70000 Standard Deviation:$10000 Mean Cost of one unit of Capacity: $500 Standard Deviation: $100 Mean Marginal Cost: $20 Standard Deviation: $2 Percentage Depreciation of Capital in Period After Construction: 40% Percentage Depreciation of Capital in Following Periods: 20% Maximum Useful Life of Capacity: 3 periods Scrap Value As a Percentage of Original Capacity Cost: 38% Inventory Cost: 3 per unit per period. Elasticity of MC with respect to output for output > available capacity: 50 DEMAND INFORMATION: The following demand information is for period 1. Growth or decline of the market in subsequent periods would affect aggregate quantities. For the tables below, it is assumed that each firm has production plus inventory to supply the demand for its product at the indicated prices: Information on Market Demand and the Effect of Brand Proliferation: If there had been the indicated number of firms each charging the same indicated price, the cell shows the approximate market output that would have resulted: Number of Firms in Market 1 2 3 4 Price 100 427 467 496 509 200 268 357 376 367 300 182 268 261 300 Information on Brand Substitution:} With two firms in the market, if firm 1 charges the price shown in the left-hand column and firm 2's price differs by the amount shown in the top row, then the cell indicates the approximate market share of firm 1. Price Differential of Firm 2 -20% -15% -10% -5% Price of Firm 1 100 45% 46% 47% 49% 200 41% 46% 49% 49% 300 40% 44% 44% 47% Market Growth Rate in Period 1: 20%. Standard Deviation of Change in Growth Rate: 4.0 percentage points. PROFILE OF MARKET D MARKET DESCRIPTION: This is a fairly large, very capital intensive market with a reliable forecast of moderate growth. There is very low brand identity, however. Most consumers buy on price. Entry costs are very high and similar across firms, but capacity costs are also substantial and vary a lot between producers. PRODUCTION COST INFORMATION: Mean Entry Cost: $250000 Standard Deviation: $5 Mean Cost of one unit of Capacity: $4000 Standard Deviation: $1000 Mean Marginal Cost: $200 Standard Deviation: $20 Percentage Depreciation of Capital in Period After Construction: 50% Percentage Depreciation of Capital in Following Periods: 10% Maximum Useful Life of Capacity: 6 periods Scrap Value As a Percentage of Original Capacity Cost: 30% Inventory Cost: The good is perishable. It cannot be stored. Elasticity of MC with respect to output for output > available capacity: 2 DEMAND INFORMATION: The following demand information is for period 1. Growth or decline of the market in subsequent periods would affect aggregate quantities. For the tables below, it is assumed that each firm has production plus inventory to supply the demand for its product at the indicated prices: Information on Market Demand and the Effect of Brand Proliferation: If there had been the indicated number of firms each charging the same indicated price, the cell shows the approximate market output that would have resulted: Number of Firms in Market 1 2 3 4 Price 400 4176 4136 4202 4219 800 2953 3010 2949 2943 1200 1934 1997 2045 2106 Information on Brand Substitution:} With two firms in the market, if firm 1 charges the price shown in the left-hand column and firm 2's price differs by the amount shown in the top row, then the cell indicates the approximate market share of firm 1. Price Differential of Firm 2 -20% -15% -10% -5% Price of Firm 1 400 0% 1% 4% 13% 800 0% 0% 0% 4% 1200 0% 0% 0% 2% Market Growth Rate in Period 1: 5%. Standard Deviation of Change in Growth Rate: 1.0 percentage points. 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