Business Strategy Assignment | Homework For You

Word limit – 1,100 The ‘Written Assignment’ comprises seven individual ‘tasks’, split into three parts. This part, Part B, covers the topics of elasticity, costs of production, market power and business strategy and is worth 20%. In this assignment the questions will cover the following four tasks: Task 2: Elasticity Task 3: Costs of production Task 4: Market power Task 5: Business strategy This assignment comprises of 13 questions which you’ll answer and submit.Homework For You Related learning outcomes This assignment assesses the following unit learning outcomes: Use economic indicators and models to understand and analyse real-world situations. Use economic concepts and knowledge to understand, explain and evaluate decision making by individuals, firms and government. Describe economic outcomes in markets and how these are affected by market structure and the macroeconomic environment. Identify appropriate business strategies and government policy to achieve positive outcomes (such as increase profit, reduce market failure, or stabilize macroeconomic fluctuations).

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

Analyse current economic issues and determine/evaluate responses by the relevant economic agents. Task 2: Elasticity For each pair of items in Questions 1 and 2, determine which product is more price elastic. Explain your answer including identifying the determinant of elasticity.

Question 1. 3D television and prescription Medication. (1 mark) Maximum number of words: 60.

Question 2. Coffee sold in a cafe and electricity (assume limited excess capacity). (1 mark) Maximum number of words: 60. In the following graph, the demand for tyres has shifted to the left because the price of cars has increased from, on average $25,000 to $35,000 per car. Use the graph to answer

Question 3. Question 3. Calculate the cross-price elasticity of demand between tyres and cars. Show your calculations and explain your answer in words. (2 marks) Maximum number of words: 80 + calculation. – ATTACHMENT 1

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper

Task 3: Costs of production Explain whether the following events in questions 1 and 2 will affect fixed costs or variable costs (make sure you justify your answer): Question 1. The federal government applies a licence fee on every ‘television network’ of 1 million AUD. (1 mark) Maximum number of words: 40. Question 2. Samsung signs a new contract changing the price it pays for ‘power boards’ that are used in its TVs. (1 mark) Maximum number of words: 40.

Read the following excerpt and answer Question 3. The world’s largest passenger plane [Airbus] has proven to be the most expensive civilian airplane ever developed. Airbus claims its fuel efficiency, control system and sound-reduction technology also make it the most advanced airliner ever built. The Dreamliner travels the same distance as the A380 [Airbus] at the same speed but carries half the passengers. Source: Airbus and dreamliner battle for air space (Links to an external site.)Links to an external site. (Coburn 2010). Question 3. You are an executive in an airline company that uses both Dreamliner and Airbus planes. Thinking of the long run, when might it be best to use the Dreamliner? When might it be best to use the Airbus? Use the long run average total cost curve in explaining your answer. (4 marks) Maximum number of words: 350.

Task 4: Market power Question 1. Graph and explain the situation for Adidas if it was the only seller of exercise running shoes in Australia. Contrast this with the situation when many other brands enter the market selling similar products. Use a graph and explain your answer. When drawing graphs assume the firm is in the long run. (2 marks) Maximum number of words: 120 + Graph Question 2. There are many cattle farms in the world, and there are also many McDonald’s restaurants in the world. Why, then, does a McDonald’s restaurant face a downward-sloping demand curve while a cattle farms face a horizontal demand curve? How would this situation change if there were two McDonalds restaurants located next to each other? (2 marks) Maximum number of words: 200.

Task 5: Business strategy Consider the example where Jim’s Coffee (they seem to sell everything else) wants to open a store but a major existing company, Stars and Coffee, threatens Jim’s by saying, ‘If you enter I will charge lower prices.’ The pay-off matrix is below. Answer questions 1 to 5. Use attachment 2 Question 1. Define dominant strategy. (1 mark) – Maximum number of words: 50. Question 2. Does Jim’s coffee have a dominant strategy? (1 mark) Maximum number of words: 80. Question 3. Does Stars and Coffee have a dominant strategy? (1 mark) Maximum number of words: 80.

Homework For YouQuestion 4. Define Nash equilibrium. What is (are) the Nash equilibrium(s) in this game. Explain. (2 marks) Maximum number of words: 150. Question 5. Should Jim’s coffee believe Stars and Coffee’s threat? Explain. (1 mark) Maximum number of words: 100. Get Economics homework help today

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
English 101
Excellent.
Customer 456823, May 15th, 2022
Military
very good job
Customer 456821, June 15th, 2022
Ethics
Thanks so much!!!
Customer 454087, June 24th, 2020
Military
excellent job
Customer 456821, August 3rd, 2022
Medicine
Properly format papers in the instructed style and always use Grammarly.
Customer 458101, April 10th, 2022
IT
Excellent.
Customer 452441, April 6th, 2022
History
Excellent work.
Customer 463001, June 12th, 2022
Marketing
Very good job! I really appreciate the work and effort you've done. it helped me a lot. the feedback has been followed one by one and I appreciate that! I will assign you for future work, and I will be sending a tip soon!
Customer 462787, August 1st, 2022
Business
Excellent.
Customer 452441, April 7th, 2022
Other
great job, thanks
Customer 462485, March 18th, 2022
SEO
Well researched
Customer 463679, April 15th, 2023
Education
Excellent.
Customer 462495, March 28th, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat