Cross Cultural Cummunication Movie Review Example | Topics and Well Written Essays - 1750 words

Multifaceted Cummunication - Movie Review Example Henceforth, it would not be right to state that culture happens to be an indispensable part of the vantage point from which an individual perspectives, deciphers and comprehends the world. An individual shapes one’s jobs and connections in a social arrangement in the light of the predominant social impacts that one buys in to. Indeed, in the current occasions when the world is getting assorted, it is surprising to recognize that it hushes up difficult to isolate an individual from the way of life in which one is conceived and raised (Irvine 64). Consequently, culture is the focal point through which an individual sees the things and thoughts. However, indeed the connection between an individual and the way of life one owes dependability to happens to hush up confounding. On the off chance that on the one side the way of life encourages an individual to adjust to the general public wherein one is conceived, on the opposite side it truly makes it hard to adjust to and change in accordance with the social orders which have an alternate culture. Consequently, in a way an individual happens to be both the recipient just as the survivor of culture. In the light of these realities the video viable presents numerous important and handy thoughts with respect to culture, how the fluctuated societies will in general vary from each other and regarding what can individuals do to acclimate to societies that are unique and outside. The message passed on by the video that in the current occasions when the changed societies couldn't resist being impacted by one another attributable to the globalized exchanging of products and enterprises, impact of advancements like the web and the simplicity of movement made conceivable via air travel, culture despite everything keeps on assuming an essential job in the human cooperations, is without a doubt valid and significant. Individuals do feel pleased with the way of life in which they are conceived and truly acknowledge whether the people from different societies do perceive their social eccentricities and characteristics (Allen 4). In the light of this reality the meaning of culture given by this video that culture is, â€Å"A example of scholarly and shared human conduct epitomized in thought, discourse and activity transmitted to succeeding ages through the utilization of devices, language and dynamic thought† is in fact obvious and pertinent. It is to be sure a certain reality that the connection between an individual and one’s culture happens to be mind boggling as in it is old, unavoidable and to a huge degree important to enable an individual to alter and adjust to the general public where one is conceived. One essentially can't deny one’s culture. The most ideal choice is consistently to acknowledge and comprehend the way of life wherein one is conceived. This goes far in propelling a person’s comprehension of different societies also. The additional data passed on by th e video with regards to the related significant parts of a culture that are qualities, mentalities and convictions in reality goes far in empowering an individual comprehend concerning what culture really is and what does it for all intents and purposes include. According to the video, values do speak to the genuine still, small voice of a specific culture and are a significant directing impact with regards to how the individuals in a culture think and carry on. Mentalities member to the enthusiastic cosmetics of a specific culture and decide with respect to how individuals in a particular culture consider and respond to specific individuals, spots or things. Convictions partner with the

Personal Development Plan Business Essay

Self-awareness Plan Business Essay Money is a vocation which forces high necessities on the general characteristics of an individual. In this report, I am picking fund as my vocation field. To begin with, we will depict a profession arranging procedure in my own vocation arranging. There are a few stages to the profession arranging process. These means are: word related investigation (know the vocation opportunity), self investigation (know what your identity is and what you need), dynamic, and game plan. Second, we will recognize a few activity families in the field of money and the contrast between the various conceivable vocation ways. These incorporate fence stock investments chief, deals and exchanging, money examiner, and so forth. At that point, we will settle on a choice, giving my vocation guide and profession plan as a fund expert. Six successive employments will be introduced to permit me to advance towards my fantasy work. We will likewise uncover the KSAs and individual characteristics required at each sp ecific employment. At long last, a self-improvement plan is given with proposals for future alumni on the diverse vocation they could have in a given field after they graduate. 1. Presentation Fund is a pulling in and testing zone for youths. For another comer into this field, simply monetary information isn't sufficient. Different characteristics, for example, solidarities, relational abilities, and business instinct are similarly significant for a fruitful vocation. With respect to my vocation objectives, I am resolved commit myself into monetary region. I have extraordinary enthusiasm for money on account of its significance in corporate turn of events and monetary turn of events. Right now, China is generally powerless in its money related part. I see it as a colossal test just as a tremendous open door for myself entering this field. 2. Vocation Planning Theory The vocation arranging process is made out of a few stages. First it is the self investigation, which responds to the subject of what your identity is and what you need. Second it is the word related investigation, which manages the openings for work. At that point it is dynamic, in which you decide of your vocation. At long last, it is the strategy, wherein you will set up your objectives and put it enthusiastically ( Barbara et al 2003; Brian et al 1988; Robert et al 2009;;Samuel et al 1993). 2.1 Self-Exploration Before any profession arranging, individuals ought to have an away from about themselves and their desires for a vocation. They ought to pose the inquiries, for example, where do I like to work, inside or outside? Am I acceptable at managing the general population? Do I want to fill in as a group or do I like to work alone? Indeed there are no set in stone responses to these inquiries, simply close to home inclination. By reevaluating of these questinos, they can find out about themselves and match themselves to the correct occupation. 2.2 Occupational Exploration Knowing about the conceivable employment families is similarly significant. Insights regarding the work completed in different occupations can be learnt through an enormous number of strategies that can be utilized to assemble word related data. A portion of the techniques are recorded beneath, for example, online research, individual perception, meet with representatives working in the field, books, banners, and TV programs. Typically individuals utilize a blend of techniques. Along these lines, they can likewise get information on the potential salary, working conditions, and business possibilities. 2.3. Dynamic After you get the data about yourself and the occupations, the time has come to settle on a choice. From your own inclinations, you ought to have a smart thought of the things that you need in your life. From the activity investigation, the occupatinoal necessity, for example, the instruction just as the work experience you need, will be clear. You would then be able to pick the occupations that will give you what you need. 2.4. Strategy From the above advances, the specific profession is resolved. Presently the time has come to set up an arrangement to assist you with accomplishing that objective. To begin with, you ought to think about the necessities and inadequacy of yourself, for example, what sort of instruction and preparing is essential; What kind of break employments are required; Second, you ought to predict the hindrances which upset you to get to your vocation. What's more, subsequently you will have the option to think of an arrangement to conquer these hindrances. All these can be utilized to frame your game plan. 3. Conceivable Career Path for Finance 3.1 Hedge subsidize chief A fence investments administrator will conclude how to put the advantages in various classes of protections. These incorporate money, securities, stocks (residential versus outside) and so forth. 3.2 Finance Analysts This includes the handling and overhauling of an assortment of operational, faculty, and monetary exchanges. Includes creating, deciphering and executing money related ideas for budgetary arranging, asset arranging, and control of hierarchical financial plan. May examine and get ready proposals for monetary plans, including yearly asset designations, future necessities, and working conjectures. 3.3 Mergers and Acquisitions Individuals doing mergers and acquisitions are like fund investigators. Just that their attention is on cooperative energies, cost investment funds, and coinsurance impacts that may come about because of brushing firms in comparative or divergent enterprises. 3.4 Sales and Trading Deals and exchanging incorporates an expansive range of occupations inside a speculation bank. Sales reps produce new business by acquiring customers for the firm. Brokers focus on creating frameworks and systems for executing requests to purchase and sell protections. Information on the activities of business sectors is fundamental to a decent dealer. 4. My Career Map During my examination as a business graduate, I have taken courses in different business subjects, for example, full scale and miniaturized scale financial matters, bookkeeping and math. In my spare time, I read distributions, for example, The Wall Street Journal, The Financial Times and The Economist. I peruse the budgetary sites ordinarily to get a report on the most recent business markets. I am acceptable at social occasion data. I can comprehend the monetary circumstance of a particular organization from its accounting report; I can peruse the financial circumstance of a nation from its macropolicy. In addition, I get exacting preparing in relational associations with others. I have aptitudes in correspondence. Proposition composing and oral introductions is likewise my capability. Along these lines, I think myself to be qualified for turning into a fund expert. My profession map is in Figure 1. Figure 1 Career Map 5. My Career Plan: Finance Analysts Employment Title Aide Finance Analyst Junior Finance Analyst Money Analyst Level Section Junior Experience General Description Section level proficient; utilizes proficient ideas to determine issues of restricted extension and multifaceted nature; chips away at assignments of restricted assortment and unpredictability, requiring restricted judgment and dynamic. Experienced-level proficient who realizes how to apply hypothesis and put it into practice with full comprehension of the proficient field; Difficulties Utilizations fundamental expert ideas. †¢ Applies grounds strategies and methodology to determine routine issues. †¢ Works on issues of constrained degree with moderate control and audit. Keeps standard practices and methodology in examining circumstances or information from which answers can be promptly acquired. †¢ Cultivates inward and outer contacts. †¢ Resolves a wide scope of issues in innovative just as down to earth ways. Information and Skills †¢ Basic information on budgetary or bookkeeping ideas, forms and methodology. †¢ Understanding of guidelines and best works on concerning budgetary bookkeeping and administrations. †¢ Familiar with division outline of accounts and related business forms. †¢ Effective composed and verbal relational abilities. †¢ Active tuning in, basic reasoning, tender loving care, authoritative abilities, great relational aptitudes and the capacity to perform multiple tasks. Essential information in information assortment and examination strategies. †¢ Service direction †¢ Leadership abilities to give instructing what's more, coaching to help staff. †¢ Knowledge of center programming programs what's more, frameworks. †¢ Thorough information on money arrangements, practices and frameworks including grounds, state and government rules and guidelines. †¢ Knowledge of monetary information the board what's more, announcing frameworks. †¢ Active tuning in, basic reasoning, consideration to detail, hierarchical abilities, solid relational aptitudes, and capacity to perform multiple tasks in a high-volume condition. †¢ Able to freely accumulate, arrange, furthermore, perform monetary investigation assignments. †¢ Advanced information on programming projects and frameworks. Duties †¢ Analyzes money related or potentially asset information; gets ready and sums up data. †¢ With management, accommodates, investigates and settle disparities in money related information. Screens work process and profitability in zones, for example, Accounts Payable, Records Receivable, Collections, Buying or potentially Cashiering. †¢ Coordinates and screens tasks of allocated utilitarian area(s). †¢ May go about as focal asset for help staff. †¢ Assists with observing profitability with the objective of meeting or surpassing standard desires for practicality also, quality. Recognize methodical issues and propose arrangements. †¢ Assesses consistence with administrative offices and interior approaches. †¢ Triages and addresses client requests as fitting †¢ Ensures the conveyance of value client administration to different voting public. †¢ Applies proficient ideas to determine issues and to perform moderate to complex investigation. †¢ Gathers and investigates, budgetary and asset plans. (Proceed) Employment Title Senior Finance Analyst portfolio administrator CFO/Partner of Company Level Senior Master Senior Expert General Description wide occupation information; manages issues of various degrees

When the Emperor was Divine Essay Example | Topics and Well Written Essays - 1250 words

At the point when the Emperor was Divine - Essay Example The story is told from the point of view of the mysterious family, and it has exceptional significance. It doesn't make a difference what were the names of relatives since they became basic untouchables according to Americans. The creator calls her personages basically: a mother, a young lady, a kid, and father which implies that comparable occasions happened to practically all Japanese families: they were essentially gone to adversaries. The story has four distinct storytellers. First part is told from the Mother's viewpoint who presumably was influenced the most by this surprising outcast as she was liable for two little kids at the nonattendance of the spouse. The excursion on the train from their home in California to Topaz War Relocation Center is portrayed by the girl of the family while the family's remaining in heartless conditions in the camp is depicted by the kid. The fourth part is told from the situation of the dad, anyway he utilizes the pronoun â€Å"we† which c an be comprehended as â€Å"we† the family or â€Å"we â€Å"-Japanese. It is conceivable to contrast this novel with Bernard Schlink's â€Å"The Reader† yet this will be an examination through restriction. In the story told by Schlink the primary character, Hanna, doesn't feel any lament about her past assistance for the Nazi camp and attempts to overlook it with the assistance of books and abnormal love. The creator brings up a troublesome issue of aware of the entire country, and for Germans just as for Japanese this inquiry ends up being extremely troublesome as it contacts every single resident. Nonetheless, in â€Å"When the Emperor was Divine† the life of the characters, even the littlest one, is transformed from the earliest starting point of the war. They become pariahs and they begin feeling embarrassed for their source. These occasions impacted each character of the book in an alternate and genuine manner. The mother of the family confronted

GAP Inc. Analysis - Free Essay Example

GAP INC. ANALYSIS GAP, Inc. is a worldwide retail company that operates as apparel in providing accessories, personal care products for men, women and children under its brands; Gap, Banana Republic, Old Navy, Piperlime, Athleta and Intermix brands. The company also provides maternity apparel, sports and fitness accessories as well as casual wear and luxury products(Businessweek.com, 2014). It was founded in 1969 by Donald and Doris Fisher. This was because; Donald could not find a fitting pair of jeans. Therefore, Fisher decided that she rather sell jeans instead of buying them. From then on, the GAP retail saw its growth, expansion as well as global dominance(Farfan, 2013). From this, it is evident that the main goal and purpose of the company is to provide products that are in line with the tastes and preferences of its customers. In between the years 2004 and 2011, the company lost focus of its main goal and focused more on its financial goals which led to the down fall of the company. This was characterized by the decline in stock prices, negative profit margins and fall in its popularity. After identification of how it had lost focus from its goals, the company has since made a tremendous improvement by shifting its focus from financial to customer based satisfaction, which has seen it come back to the top again. Currently, the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s net sales have increased by 10% to $1.33 billion against $1.21 billion last year. The company whose headquarters is in San Francisco, California, has also seen the introduction of a new member to its management team. Marissa Webb has been announced by the Banana Republic, as the Creative Director and Executive Vice President of Design which was effective from April 28, 2014(Businessweek.com, 2014).The company operates 3,100 stores as well as 350 franchise stores in 90 countries. Through company-operated stores, franchise stores, e-commerce sites and catalogs, the company is able to provide its products to millions of people worldwide. Swot Analysis Goals and objectives- this companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s main goal is to satisfy the customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s tastes and preferences. Therefore, this forces the company to keep up with current trends in the society making this its main objective. For instance, since the company retails clothes as one of its products, the company has to provide clothes that are in line with the current fashion trend. Strengths- global brand recognition due to its worldwide based company-operated stores as well as franchise stores. Also provision of its multiple brands such as Gap, old navy, banana republic, piperlime and athleta have seen the popularity of the company grow and expanded the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s customer and vendor base. Weaknesses- for a large company as GAP, the main weakness that it faces would have to be control of the company since its vast expansion has led to the emergence of various branches across the world. Therefore, it becomes difficult for management to manage the branches. Opportunities- the company has different individuals working for it who can help the company keep in line with the current emerging trends. Also the introduction of e-commerce services in the company helps boost total sales of the company due to the introduction of web based stores. Threats- a big company such as GAP faces many threats in its day to day operations. Some of these challenges include; Keeping up with current emerging trends is difficult due to changes in customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s tastes and preferences as well as emerging trends in fashion. The company has grown to a level where it is difficult for top managers to control the various branches as well as departments of the company which are based worldwide. Implementation of new and creative ideas is slow due to the huge size of the company. Emergence of highly competitive apparel retail industries such as Abercrombie and Fitch. Gap analysis of Gap Inc. Measure of potential and actual performance of a company or the measure of optimum allocation of inputs compared to the current allocation is what is referred to as gap analysis (Jennings, 2000). Gap Inc. is one of the major international retail companies that face many challenges in order to remain at the top in the retail industry. In spite of efforts put in by management as well as staff members to achieve this objective, the company has gaps within its system that slow down implementation of measures to realize this objective. Some of these gaps include; Opening of new stores in Europe and China. The company has plans in opening outlet stores in Asia and Europe. Plans are underway to open its first store in Italy and China. This is an opportunity for the expansion of its huge customer and vendor base but it is as well a gap since Asia and Europe are regions with different cultures and beliefs from those of America. Therefore, in order for employees to come into terms with the conditions for working within the Gap Inc. rules and regulations, they will require training (Marston Modarres, 2002). Communication between the employees and management as well as between the company and its customers. The employees require communication training to improve their communication skills. This will help them to have better relations with senior most managers as well as amongst themselves such that in case of emergency or new lucrative ideas, immediate action is taken. This will also improve and make delivery of customer care services more efficient. Over reliance on third party vendors. Most of the merchandise is dependent on third parties outside the US. This causes delay in supplies, shortage of products as well as increase in costs such as production costs, storage costs and supply costs. These third party vendors require training to enable them have the ability to forecast the amount of merchandise they require for a certain period to avoid miscellaneous cost associated with shipment and storage. Keeping up with trends in the market is difficult and this is seen during the downfall of the company between the years 2004 and 2011. At the time it was declared that the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s merchandise was not appealing to ladies. In order to keep up with emerging trends, the company can go into partnership with an art school and promote some of the products from the school under its brands. This encourages emergence of new products and the company could get new talented designers. Training Needs Assessment Due to the huge size of the company, for the needs assessment the best methods to use would be the use of interviews and questionnaires. This is because, not all employees or managers can be interviewed hence holding interviews with different branch managers would be appropriate. The interviews would be effective through the use of video calling via the internet to be able to interview branch managers from the different branches worldwide. The use of the questionnaire would be most appropriate to send to customers especially those using the online based stores. For those going to the actual stores could be provided with the questionnaire during purchase of the merchandise or alternatively they could be given a website link where they could rate the performance and services offered by the company (Royse, 2009). For the interview, questions asked are about; What they think about how competitors run their companies Their current sales strategies Their management practices in terms of communication with the employees, retailers as well as customers What are the challenges they are facing What ought to be done for the company to keep in line with emerging trends. For the questionnaire, the customers are required to rate the company on the following; The efficiency of the customer care services provided Response of the company to issues that arise in case a customer has an issue with the product purchased For those using online based stores, how efficient are the delivery services of the company after making of an order. Is the customer satisfied with the quality of the products offered by the various brands of the company Comments on what needs to be implemented or avoided by the company. The efficiency of this needs assessment would be realized if the results are taken into consideration and the changes and implementations made with immediate effect. This will help the company increase efficiency of the services they offer as well as help them keep in line with the emerging trends. Conclusion The training program that would be recommended for this company would be team building. This is because, team building brings together employees to work as a unit and also enhances communication amongst the employees. It also helps employees as well as management settle feuds among them. Also a customer service training would be required to improve efficiency of customer care service delivery. References Businessweek.com,. (2014). GAP INC/THE (GAP:German Stock Exchange): Stock Quote Company Profile Businessweek. Retrieved 14 May 2014, from https://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=GAP:GR Farfan, B. (2013). Behind Gap Inc. Earnings Report and Performance Success How Glenn Murphy Led The Gap From Big Store Closings Back to Retail Relevance In Two Years (GPS, JCP, SHLD, RSH).About.com Retail Industry. Retrieved 14 May 2014, from https://retailindustry.about.com/b/2013/08/22/behind-gap-inc-earnings-report-and-performance-success-how-glenn-murphy-led-the-gap-from-big-store-closings-back-to-retail-relevance-in-two-years-gps-jcp-shld-rsh.htm Jennings, M. (2000). Gap analysis: concepts, methods, and recent results*.Landscape Ecology,15(1), 520. Marston, S., Modarres, A. (2002). Flexible retailing: Gap Inc. and the multiple spaces of shopping in the United States.Tijdschrift Voor Economische En Sociale Geografie,93(1), 8399. Royse, D. (2009).Needs assessment(1st ed.). New York: Oxford University Press.

Impact Of Terrorism On The Middle East - 2071 Words

HAMAS INTRODUCTION: Terrorism in the Middle East has brought the Israeli-Palestinian conflict to the attention of the world. These terrorist groups use murder, bombs, threats, and other violent acts to get their way politically. Hamas, the organization that has replaced Fatah as the representative of the Palestinians, is a leading sponsor of terrorism. Critics say the group is a terrorist organization that wants nothing but to wipe Israel off the face of the Earth. Supporters say Hamas, which represents the only organized Palestinian military force, is a coalition of freedom fighters and liberators defending the Palestinian people. HAMAS CREATION AND LEADERSHIP: This group was created in 1987 and continues to expand its power today. Hamas formed in late 1987 at the beginning of the first Palestinian intifada. Hamas was created by Sheik Ahmad Yasinat, along with Abdel Aziz al-Rantissi, and Mohammad Taha in late 80’s at the beginning of the first Palestinian uprising†( Biersteker 2008). Hamas uses paramilitary force and the violent part of Hamas, stage anti-Israeli attacks including improvised explosive device attacks, and rocket attacks against Israeli targets inside the country of Israel. Its roots are in the Palestinian branch of the Muslim Brotherhood, and it is supported by a robust sociopolitical structure inside the Palestinian territories. â€Å"The group’s charter calls for establishing an Islamic Palestinian state in place of Israel and rejects all agreements madeShow MoreRelatedWestern Media And Its Coverage Of Terrorism1155 Words   |  5 Pagespresented with the a globe, s/he wi ll accept that both are legitimate ways to view Earth. This is the same principle that follows Western media and their coverage of terrorism. 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Suicide bombers are people who attack other innocent people with the intention to cause great damage while taking their own life in the process. These type of attacks are mostly related with religious beliefs and involvement from terroristRead MoreEssay on Israeli-Palestinian Conflict and the Presidential Election1542 Words   |  7 Pagesthrough military endeavors or through appeals for international cooperation. Sure, those are both essential parts of combating terrorism, and Americans strive to achieve in both categories. However, this is not a war to simply meet indiscriminate aggression against aggression. This is neither a World War nor a Cold War. Only about one-third of the battle against terrorism is fought through military means, and that’s the easy part. The remaining 66 percent – the bulk of the big picture – deals withRead MoreShould The United States Get Involved During The Middle East?1195 Words   |  5 PagesShould the United States get i nvolved in the Middle East? President Obama stated in his Anti-Terror Strategy address, We continue to face a terrorist threat. We cannot erase every trace of evil from the world, and small groups of killers have the capacity to do great harm. That was the case before 9/11, and that remains true today† (Obama).The Middle East today is composed of very complicated religious tensions, unstable states, and rising terrorist organizations. The collapse of central governmentsRead MoreTerrorism : Terrorism And Terrorism1586 Words   |  7 Pagesand writers are writing about the biggest threats of the world. Several reports are also made to understand the recent global threats. In order to write something about the recent global threats, one word comes to our mind that is terrorism. Terrorism is related extremism, as terrorist people are extremists in their belief. Biggest terrorist group like ISIS is also an Islamic extremist group. In these years we have observed shameful actions in the name of religion. 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Writing Effective Communication Exam 05002100 - 799 Words

PART A: INTEROFFICE MEMORANDUM PHOENIX ADVERTISING INTEROFFICE MEMORANDUM DATE: January 26, 2013 TO: Sunny Ray, Vice President Client Services, Grace Kennedy, Vice President Marketing, Summer Breeze, Vice President Creative Services FROM: Mark Hamilton SUBJECT: Roanoke Branch Update A situation has arisen at the Roanoke branch office whereby there has been some amount of discontent among the staff. The problem began after a recent change of staff at the management level; apparently some members of the creative department which includes graphic artists and copywriters have since complained that their work is not being well received by the new management personnel. Additionally, four clients of the branch have complained about†¦show more content†¦I have alerted the regional manager at the Roanoke branch to assist with any information you will require to complete your task. I am therefore requesting that you go to the Roanoke branch tomorrow morning to gather the information; please communicate only with the branch manager. After you have gathered the requested information, I would like you to prepare a comprehensive but concise report with illustrations, to facilitate the analysis of trends and comparisons so we can quickly find a solution to the prevailing situation at Roanoke. I am expecting you to provide me with your report by midday Wednesday February 6, 2013 and I will meet with you in my office at 3:30 PM to discuss your findings. The situation at the Roanoke Branch if not dealt with urgently can negatively impact the financial position of the entire organization. So it’s against this background that I request that you work efficiently and quickly so that we can all work to find the right solution to the problems at the Roanoke branch. Regards, Mark Hamilton Vice President Human Resources Phoenix Advertising Agency Head Office 12 Henley Street Phoenix, Arizona 85003 Telephone: 602-785-4123

Unit 3b free essay sample

What happens to Hi-Tech’s profits and price of books in the short run when Hi-Tech’s patent prevents other firms from using the new technology? c. What happens in the long run when the patent expires and other firms are free to use the technology? 2. Suppose there are 1,000 hot pretzel stands operating in NYC. Each stand has the usual U-shaped ATC curve. The market demand curve for pretzels slopes downward, and the market for pretzels is in the long-run competitive equilibrium. a. Draw the current equilibrium, using graphs for the entire market and for an individual pretzel stand. b. The city decides to restrict the number of pretzel-stand licenses, reducing the number of stands to only 800. What effect will this action have on the market and on an individual stand that is still operating? Draw graphs to illustrate your answer. c. Suppose that the city decides to charge a fee for the 800 licenses, all of which are quickly sold. How will the size of the fee affect the number of pretzels sold by an individual stand? How will it affect the price of pretzels in the city? d. The city wants to raise as much revenue as possible, while ensuring that all 800 licenses are sold. How high should the city set the license fee? Show the answer on your graph. Part B: Please answer three out of the five problems for Chapter 15, p. 340-343. 3. Suppose the Clean Springs Water Company has a monopoly on bottled water sales in California. If the price of tap water increases, what is the change in Clean Springs’ profit maximizing levels of output, price, and profit? Explain in words and with a graph. 4. A small town is served by many competing supermarkets, which have constant marginal cost. a. Using a diagram of the market for groceries, show the consumer surplus, producer surplus, and total surplus. b. Now suppose that the independent supermarkets combine into one chain. Using a new diagram, show the new consumer surplus, producer surplus, and total surplus. Relative to the competitive market, what is the transfer from consumers to producers? What is the deadweight loss? 5. The Placebo Drug Company holds a patent on one of its discoveries. a. Assuming that the production of the drug involves rising marginal cost, draw a diagram to illustrate Placebo’s profit maximizing price and quantity. Also show Placebo’s profits. b. Suppose that the government imposes a tax on each bottle of the drug produced. On a new diagram, illustrate Placebo’s new price and quantity. Compare diagram to answers in part (a)? c. In your diagram, the tax reduces Placebo’s profit. Explain why this is true. d. Instead of the tax per bottle, suppose that the government imposes a tax on Placebo of $10,000 regardless of how many bottles are produced. How does this tax affect Placebo’s price, quantity and profits? Explain. 6. Larry, Curly, and Moe run the only saloon in town. Larry wants to sell as many drinks as possible without losing money. Curly wants the saloon to bring in as much revenue as possible. Moe wants to make the largest possible profits. Using a single diagram of the saloon’s demand curve and its cost curves, show the price and quantity combinations favored by each of the three partners. Explain. 7. Many schemes for price discriminating involve some cost. For example, discount coupons take up the time and resources of both the buyer and the seller. This question considers the implications of costly price discrimination. To keep things simple, let’s assume that our monopolist’s production costs are simply proportional to output so that ATC and MC are constant and equal to each other. a. Draw the cost, demand, and MR curves for the monopolist. Show the price the monopolist would charge without price discrimination. b. In your diagram, mark the area equal to the monopolist’s profit and call it X. Mark the area equal to consumer surplus and call it Y. Mark the area equal to deadweight loss and call it Z. c. Now suppose that monopolist can perfectly price discriminate. What is the monopolist’s profit? (Give your answer in terms of X, Y and Z. ) d. What is the change in the monopolist’s profit from price discrimination? What is the change in total surplus from price discrimination? Which change is larger? Explain. (Give your answer in terms of X, Y and Z. ) e. Now suppose that there is some cost of price discrimination. To model this cost, let’s assume that the monopolist has to pay a fixed cost C to price discriminate. How would a monopolist make the decision whether to pay this fixed cost? Give your answer in terms of X, Y, Z and C. ) f. How would a benevolent social planner, who cares about total surplus, decide whether the monopolist should price discriminate? (Give your answer in terms of X, Y, Z and C. ) g. Compare your answers to parts (e) and (f). How does the monopolist’s incentive to price discriminate differ from the social planner’s? Is it possible that the monopolist will price discriminate even though it is not socially desirable? Part C: Please answer two out of the three problems for Chapter 17, p. 388-389. 8. For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither. Explain. a. Sells a differentiated product from its competitors. b. Has MR less than price. c. Earns economic profit in the long run. d. Produces at minimum of ATC in the long run. e. Equates MR and MC. f. Charges a price above marginal cost. 9. For each of the following characteristics, say whether it describes a monopoly firm, a monopolistically competitive firm, both, or neither. Explain. a. Face a downward-sloping demand curve . Has MR less than price. c. Faces the entry of new firms selling similar products. d. Earns economic profit in the long run. e. Equates MR and MC f. Produces the socially efficient quantity of output. 10. You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, MC, and ATC. Can the firm possibly maximizing profit? If the firm is pro fit maximizing, is the firm in a long-run equilibrium? If not, what will happen to restore long-run equilibrium? a. P lt; MC, P gt; ATC b. P gt; MC, P lt; ATC . P = MC, P gt; ATC d. P gt; MC, P = ATC Part D: Please answer two out of the four problems for Chapter 16, p. 368. 11. Among monopoly, oligopoly, monopolistically competition, and perfect competition, how would you classify the markets for each of the following drinks? Explain. a. Tap water b. Bottled water c. Cola d. Beer 12. The New York Times (November 30 1993) reported that â€Å"the inability of OPEC to agree last week to cut production has sent the oil market into turmoil †¦ [leading to] the lowest price for domestic crude oil since June 1990. † a. Why were the members of OPEC trying to agree to cut production? b. Why do you suppose OPEC was unable to agree on cutting production? Why did the oil market go into â€Å"turmoil† as a result? c. The newspaper also noted OPEC’s view â€Å"that producing nations outside the organization, like Norway and Britain, should do their share and cut production. † What does the phrase â€Å"do their share† suggest about OPEC’s desired relationship with Norway and Britain? 13. A case study in the chapter describes a phone conversation between the presidents of American Airlines and Braniff Airways. Let’s analyze the game between the two companies. Suppose that each company can charge either a high price for tickets or a low price. If one company charges $100, it earns low profits if the other company charges $100 also and high profits if the other company charges $200. On the other hand, if the company charges $200, it earns very low profits if the other company charges $100 and medium profits if the other company charges $200 also. a. Draw a decision box for this game. b. What is the Nash Equilibrium in this game? Explain. c. Is there an outcome that would be better than the Nash Equilibrium for both airlines? How could it be achieved? Who would lose if it were achieved? 14. A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the MC of mining diamonds is constant at $1,000 per diamond, and the demand for diamonds is described by the following schedule: P |$8,000 |7,000 |6,000 |5,000 |4,000 |3,000 |2,000 |1,000 | |Q |5,000 diamonds |6,000 |7,000 |8,000 |9,000 |10,000 |11,000 |12,000 | | a. If there were many suppliers of diamonds, what would be the price and quantity? b. If there were only one supplier of diamonds, what would be the price and quantity? c. If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa’s production and profit? What would happen to South Africa’s profit if it increased its production by 1,000 while Russia stuck to the cartel agreement? d. Use your answer to part (c) to explain why cartel agreements are often not successful.