Read the articles:
1) The Kraft-Heinz merger & the monopoly on food
https://www.upi.com/Top_News/Analysis/2015/03/26/The-Kraft-Heinz-merger-the-monopoly-on-food/4591427324041/
by By Frank J. Maduri - March 26, 2015
If this link does not work, (1) post the link to a new web page URL line (2) use the UMUC on line library for the article search.
2) Crovitz: TV's Unnatural Monopolies.
https://online.wsj.com/article/SB10001424127887324139404579016850166003972.html
If this link does not work, (1) post the link to a new web page URL line (2) use the UMUC on line library for the article search.
3) Is Google a Monopoly? Wrong Question
https://www.bloomberg.com/news/2012-07-08/is-google-a-monopoly-wrong-question.html
If this link does not work, (1) post the link to a new web page URL line (2) use the UMUC on line library for the article search.
4) Drug Patents and Generics
https://www.news-medical.net/health/Drug-Patents-and-Generics.aspx
If this link does not work, (1) post the link to a new web page URL line (2) use the UMUC on line library for the article search.
Presentation format:
You are expected to make your own contribution in a main topic as well as respond with value-added comments to at least two of your classmates. You are also encouraged to respond to other students. In order to receive full credit for your contribution you are to (1) quote appropriate article(s) material in support of your analysis (the quoted material is not your analysis), and (2) cite the article(s) you are using. Articles used should be cited using APA format. (3) Week 1 module content should also be used to support and give credence to your comments. Also, to demonstrate your comprehension, please focus on economic vocabulary and supporting your remarks with clear examples. As always edit (grammar, punctuation, spelling) your response before submitting. Failure to embed article or module content material and cite appropriately reduces assessed grade by 15 points.
Briefly summarize (1) the economics of one of the articles above and (2) answer one of the following using the guidelines directly above:
1. Describe and explain why a monopolist must lower its quantity relative to a competitive market to maximize its profits. Use what you have learned about supply/demand (does a monopolist have a supply curve?) and cost curves to explain your response.
2. Why does the government grant patents to companies that research new drugs? Discuss both the pro and con.
3. What would happen if the government chooses to increase the number of years that a firm can enjoy patent protection from 20 years to 25 years? Use what you have learned about cost curves to fully explain your response.
4. You own a local sub shop in a college town. You primarily serve two groups of people: local residents (both students and other local residents) and visitors to your town. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy. Describe and explain the assumptions you are making.
5. Suppose that you own a golf course that is part of a Florida resort. You primarily serve two groups of people: local residents and tourists. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy. Describe the assumption you are making.
6. If you purchased a new model of a digital camera right after it is released you will likely pay more than if you purchase it six months after release. Is this an example of price discrimination on the part of the firm? Explain your response using text material as is appropriate.