Manufacturer Brief Case Study Example | Topics and Well Written Essays - 250 words

Manufacturer Brief - Case Study Example Number of employees: According to the data as at 2013, the company has an approximate of 2,000 employees. The number of employees has been increasing for the last five years an indication that the company is growing. Annual revenue: The Company’s annual revenue is approximated to be $150 million. According to the world’s statistic, the company’s revenue has been increasing with 2 per cent for the last seven years. Recent news release: The Company introduced four digital TLM 103D microphones for vocal applications building. The microphones have a little self-generated noise. They also have a clear sound transmission that is clearly heard at a distance. The Company’s interaction with its clients: The Company has an active interaction with its customers. Through the company’s website, clients can submit their proposals and complaints. More so, the company has created a page in social media like Facebook. The created page enables the company to market itself and also to receive customers’ opinions. It has helped the Company produce microphones that meet the customers’ tastes and

Microeconomics Essay Example | Topics and Well Written Essays - 2000 words - 4

Microeconomics - Essay Example One of the main characteristics of perfect competition includes sale of homogenous goods where all firms in the market same the same good. The second characteristic of perfect competitive market is perfect information where all sellers and buyers if goods know the price of the good and an increase in price by the seller will result in zero sales. Monopoly is a market structure consisting of one seller and many buyers; hence, the seller has total maker power on price and quantity. The main characteristic of this market is the lack of close substitutes; hence, the users have to purchase from the firm at the price. The second characteristic of monopoly is high barriers of entry that could be as a result of high capital requirement, ownership of production resources by the firm, natural causes, and government offer of single license to the firm ensuring presence of abnormal profits in the long-run in a monopoly market. Oligopoly defines a market structure characterized by few large firms operating in the market hence the decision of a firm affects other firms in the market. A characteristic of an oligopoly is aggressive and defensive advertising to ensure buyers get information on the products and give a firm advantage over the other firms in the market. The other characteristic is price rigidity, since when one firm increase price other firms may not follow suit leading to loss of sales by the firm with an increased prices and augmented sales for the other firms. Monopolistic competition consists of a market structure consisting of firms with a degree of market power owing to the production of non-perfectly substitutable goods, and the aim of the firms is profit maximization. A characteristic of monopolistic competition is free entry of firms ensuring the economic profits in the long-run are reduced to normal profits. The second characteristic is that firms produce differentiated products allowing for a certain degree of market power since the goods cannot be