Essays

Hello Mr. Glen,

I hope your day is going as well as to be expected. Ifyou canedit, APA format and use the provided information to create the slide for these 3 assignments A and BI need 2night. I can wait till tomorrow for C and D.

My email is

Adue 2night

Does this makes since if not can you clean my answer up

Question

The OPEC cartel is considered to be a classic example of an oligopolistic market structure. With respect to how the OPEC cartel operates, what would be a documented case of explicit collusion consistent with a game theoretic approach?

My Answer

After researching I learned that “The Organization of Petroleum Exporting Countries (OPEC) is a group consisting of 12 of the world's major oil-exporting nations. OPEC was founded in 1960 to coordinate the petroleum policies of its members, and to provide member states with technical and economic aid”. (investopedia.com). With this in mind there has to be many documented cases referring to the emulous disagreements in the oil industry. For example, Columbia Circuit Court of Appeals actions in processing a lawsuit against OPEC. ( Keeping in mind that the OPEC group has the control to stiffen prices and regulate the quantity of crude oil. Doesn’t this disobeys a passage in the Sherman Act? As a result of their cleverness and addictedness to imported petroleum we as the drivers are feeling the effects of skyrocketing gas prices. Personally, this reminds me of a game theoretic model of a football game. I believe that the OPEC needs to level the playing field and realize that they need the citizens of this world and vice versa.

Bdue 2night

Current Market Conditions Competitive Analysis

  • Due Feb 06, 11:59 PM

Purpose of Assignment

Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization's total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served.

Assignment Steps

Scenario: You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products.

Research an organization and a product produced by that organization in which an analysis can be conducted.

Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics:

  • Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
  • Analyze any comparative advantages and international trade opportunities.
  • Explain the factors that will affect demand, supply, and prices of that product.
  • Examine factors that will affect Total Revenue, including but not limited to:
  • Price elasticity of demand
  • Factors that influence productivity
  • Various measures of costs, including opportunity costs
  • Externalities and government public policy and their effect on marginal revenue and marginal cost
  • Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.

Cite a minimum of three peer-reviewed sources from the University Library. YOU WILL NEED TO LOOK AT THE PDF FILES

Introduction-
These papers will inform you about BP and how their products are beneficial to consumers. “BP delivers energy products and services that people around the world need. Our Upstream segment is responsible for oil and natural gas exploration, field development and production. Our Downstream segment is focused on the refining and marketing of fuels, lubricants and petrochemicals”. ( bp.com)This is an organization that supplies the people in society with Natural Gas and Oil. We all know those products are needed for energy for heat and to put fuel in our cars. These are products that are essential to the consumer and are need daily. The paper will discuss the organizations business model and the way the organization marketing. There will be examples provided. The analysis will provide you with an outlook on one of our current products. I will try to make you understand the future success we can have with this product. Elaborate on the international trade opportunities. Explain the affects that supply and demand for this product. The main focus is to show how this product is doing on the market.
Student researched an organization and product from which an analysis can be conducted.
The reason why this organization is going to be successful is because it is selling product that will always be needed. The reason I choose natural Gas and Oil is because it is a product that is used in many countries. This is a product that is easy to trade internationally. There is a lot of information about Oil and Gas. So many different companies and countries depend on these products. The article Oil reserve life and the influence of crude oil prices: An analysis of Texas reserves states” The value of an oil producing Exploration and Production (E&P) company depends on the amount of proved reserves it has available for production”. The analysis will show the different how the product is doing in the market. This will allow you to see the different segments of the organizations ability to market and sell the product. That is why it is important to stay up to date with all your information about the market. Always want to stay ahead of the competition.
Student defined the type of markets their selected product will compete in along with an analysis of competitors and customers.
When someone is trying to sell Natural Gas and Oil you would of course want customers. In any business or organization. You will have your competitors. That will always want to beat you in any way possible. This is a product that is at a high demand. After doing some research I learned that Natural Gas is more likely to becoming the fastest growing fossil fuel and coal is nine times out of ten more likely to loss markets shares. The article Long term climate change mitigation goals under the nuclear phase out policy: The Swiss energy system transition states” Heavy dependence on fossil fuels in the global energy system has created key challenges for climate change mitigation and energy supply security”. There are different markets you can look at when it comes down to natural gas. For example there are two main types of ways to marketing natural gas. If a person is marketing natural gas they have a lot to take into consideration. The analysis basically informs you about the product and gives data about the percentage of carbon monoxide and oxygen that is being distributed due to the natural gas.
Student analyzed any comparative advantages and international trade opportunities.
As a person looks at the different markets. The question they must ask themselves the price of the product or good that their trying to sell. Will it prevail in the world market? International trading is a huge step for any country to take on. The trade with different nations is usually based on comparative advantage. This interaction usually benefits each nation. When you compare your world price against your domestic price it will allow the trade to have options. The purpose and benefits of Internationally Trading is it allows are citizens and consumers a chance to get different products. It definitely helps the cost. It creates competition.” Lower costs through economies of scale. Some goods can be produced at low cost only if they are produced in large quantities—a phenomenon called economies of scale. A firm in a small country cannot take full advantage of economies of scale if it can sell only in a small domestic market. Free trade gives firms access to larger world markets and allows them to realize economies of scale more fully”. (Mankiw, N. Gregory (2015). This usually makes people want to use their brains and come up with ideas that will enhance the organization. Which allows the organization to reach their goals.
Student explained the factors that will affect demand, supply and prices of their product choice.
This product is not very easy to supply and has very high demand. As we invest more it helps to make the supply gain. This allows us to structure the demand. As I reviewed some information I learned that natural gas and oil is a part of the world industry. The product is needed internationally. If you look at the demand side of things it is apparent that there is a strong growth in the consumption of energy. Through our organization an average barrel of crude oil was about $53.00 in 2015. We have to look at all the world events. For example there was the Russian Oil Exports, Yom Kippur War and we have to think about when Iraq invaded Kuwait. “The economy is governed by two kinds of laws: the laws of supply and demand and the laws enacted by governments. In this chapter, we have begun to see how these laws interact. Price controls and taxes are common in various markets in the economy, and their effects are frequently debated in the press and among policymakers”.( Mankiw, N. Gregory (2015). These are just some of the key factors that will affect the supply and demand of this product.
Student examined factors that will affect Total Revenue including, but not limited to,
price elasticity of demand
The price elasticity of demand shows the quantity demanded to a change in a price. The organization has to measure how much the percentage change. One must discuss elasticity of demand in general terms compute and reflects that the change in the quantity demanded is proportionately larger than the change in price. The total revenue and the Price Elasticity of Demand of a product or good. Reflects the amount that is paid by buyers and received by sellers of that good or product. It reflects the amount the amount that is paid by buyers and that is received by sellers of that good or product. One must look at elasticities for society’s point of view.”We obtain the opposite result if demand is elastic: An increase in the price causes a decrease in total revenue”.( Mankiw, N. Gregory (2015). The information showed us the factors that affect total revenue and the elasticity price of demand. The factor is the quantity.
and factors that influence productivity,
There are a lot of differences in the way people in society lives these days. The countries are different this affects productivity of the amount of goods and services that can be produced with the amount of labor that is being put in. Some countries look at how much can a worker produce in a certain amount of time. There are other nations that base their living standards on the fact of their income. Others look at what their workers can produce can produce a large quantity of products per hour. For example say the United States of America had a organization makes a thousand cups per hour. They had 10,000 organizations that make cups. Just imagine the revenue the country would bring in.” Similarly, the growth rate of a nation's productivity determines the growth rate of its average income. Productivity the quantity of goods and services produced from each unit of labor input”. (Mankiw, N. Gregory (2015). Those are some of the factors.
various measures of costs, including opportunity costs,
Some people don’t make rational decisions when it comes down to cost. For example look at the cost of college for instance. “The opportunity cost of an item is what you give up to get that item. When making any decision, decision makers should be aware of the opportunity costs that accompany each possible action. In fact, they usually are”. (Mankiw, N. Gregory (2015). When you think about the cost of things there are some key factors. People see things and regardless if it is a need or want they produce that opportunity cost to obtain that item. That is why people face trade-offs with other people. Then everyone wants to compare what they are gaining to the cost of the product or good. For example one could look at an average college student that plays football and they’re good. They would have the option of playing pro football. The revenue would definitely be more. On the other hand a more rational college student may look at the fact that the degree is more important and what they could do with it.
externalities and government public policy,
If you want to talk about Externalities a person would have to look at the effects that they have on today’s markets. Sometimes business impacts one’s personal actions. Externalities and market inefficiency has it effects on the economic well-being of the market. Some buyers and sellers neglect the fact of their actions. These buyers and sellers don’t look at how much the demand or supply is for the product or good. Those types of buyers and sellers made the market not efficient when there are externalities. Thinking about the cost to society for producing certain products or goods.” At any given quantity, the height of the demand curve shows the willingness to pay of the marginal buyer”.(Mankiw, N. Gregory (2015). This is what causes market failure. The government has different policies. There is a command and control policy that expresses regulation. I know that every business and organization has certain policy’s that that their staff has to follow.
and their effect on marginal revenue and marginal cost.
The information provided shows us that there are various types of costs. There is an average total cost, average fixed cost, average variable coat and marginal cost. A person has to remember that there can be an increase in the total cost that comes from extra production. That is why there are cost curves and they have their own particular shapes. Then you have marginal revenue this like changing the total revenue from an additional product that is being sold. This is the main goal of a competitive firm is to make as much profit as possible.
” marginal revenue, which is the change in total revenue from the sale of each additional unit of output”.( Mankiw, N. Gregory (2015). The purpose of a business is to obtain revenue and beat their competitors by selling more of the product or good. This is what allows an organization to grow and bring their profits to all time high.
Student recommended how their organization can maximize their profit making potential and increase their presence within the market served by the product.
When a business or organization is thinking about maximizing their profits. First they must measure the profits for that competitive firm. The supply curve helps you to examine the market with a number of the firms. There is a process of entry and exit. There is a shift in demand. This is the whole point of market conditions.” Notice that if firms have different costs, some firms earn profit even in the long run. In this case, the price in the market reflects the average total cost of the marginal firm—the firm that would exit the market if the price were any lower”. (Mankiw, N. Gregory (2015). The competitive market has it long-run supply curve might slope upward. That allows the organization to think about profit making potential and the increase that their presence within the market by the product. An incentive that induces a person to act. Are the decisions of the planner being replaced? The government enforced property rights. Market Failure is which is when the market left. Fails to allocate resources efficiently.
Conclusion
The conclusion is that oil and natural gas is at a total demand. A organization or business. That you want to be successful. The current products that BP has to offer are fuel and credit cards and lubricants. According to “Another perspective on gasoline price responses to crude oil price changes” Oil price volatility, however, can increase the price of gasoline through other channels. In particular, it increases the refiners' adjustment and transaction costs and raises the uncertainty about their profit. For example, the refiners adjust their facilities in advance based on the expected level of inventories, which depends on a range of factors including the price of crude oil”. In conclusion you have to consider the fact that fossil fuel is becoming fast growing and its profits are rising. We have to reflect our opinions on the marginal revenue and its cost. These products have a high supply and demand. International trading will always be needed. A person also has to into consideration how externalities can impact a business even if they are positive or negative. Remember that there is a competitive society that we are in. Overall the competitive market has it long-run supply curve might slope upward. The government has enforced by the property.
The paper is 1,750 words in length.

Check Pdf files and cite