Theory of branch markets Case-study 1. MIEMP Witte

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Theory of branch markets Case-study 1. MIEMP Witte

Option 1.
Situation 1.
You are an advisor to the Director General for Finance. The management of the enterprise decided to enter a new industry market. You are tasked with assessing the engineering market, using the data of Rosstat.
Questions and Tasks:
1. Which economic school will you choose to evaluate the industry market? Justify your answer.
2. What type of markets does the machine building industry belong to?
3. What are the boundaries of the industry market?
4. Identify the model that you want to use to assess the engineering market? Justify your answer.
5. Conclude about the prospects of work in the industry market.

Situation 2.
In conditions of pure monopoly, the monopoly firm represents the whole industry, therefore, the demand for the firm´s products coincides with the market demand for products. The company produces components for the assembly of cars. Data for analysis are presented in Table 1.
The gross income of any firm is defined as the product of the price of a unit of a commodity by the amount of demand for a product in a given branch market:
TR = P * Q

Questions and Tasks:
1. Define the gross and marginal revenue of the monopolist firm and fill in Table 1.


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