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These conditions may seem to be rational, but in reality some deviations are also permitted. In analyzing the cost of production for Coca-Cola there is a noticeable decrease from the year of 2013-2017. Through this Coca-Cola would be able to swiftly adapt to market shifts and remain ahead of opportunities so they aren’t forced to react to unforeseen shifts. When saying going back-to-the basics it is implied that Coca-Cola should consider utilizing some of the tactics that Asa Candler used when he initially purchased Coke. This could be a good way for Coca-Cola to promote its new acquisition while receiving an ROI in return. Information from appropriate sources is integrated with some analysis. Copying is only available for logged-in users, If you need this sample for free, we can send it to you via email. In simpl… This is not an example of the work produced by our Essay Writing Service. We will write a custom Essay on Microeconomic Analysis specifically for you for only $16.05 $11/page. Since the peak in 1976, per capita beef consumption in the United States has fallen by almost 30 per cent. Sorry, but copying text is forbidden on this website. Critical objects related to these are belongs to the stable system of the equilibrium and the study of such theories provides an answers to the various questions related with stability, number of equilibrium, existence and noticing the space of parameter example: Evolutionary Games. Microeconomics 201 Coca-Cola Analysis Milestone 3. Additionally, its tea and coffee sales were reportedly up a 2% from its previous quarters (“Coca-Cola Analysis,” n.d.). con ” (Henningsen and T oomet, 2005) and provides tools for microeconomic analysis. These costs can range from (but not limited to) a fixed cost, operating costs, sunk costs, variable costs, marginal costs, short run costs and long run costs (“Economic Cost,” n.d.). Additionally, further analysis proves that the soft drink industry can expect to see a 1.9% growth annually in their soft drink sales (“Soft Drinks Statistical Data,” n.d.). Accurately reference resources using Harvard System, including in text referencing if applicable. Business Does not show an understanding of the requirements of the task or assignment is not submitted at all. Microeconomics is more of a smaller scale such as an industry while macroeconomics is on a more national level. This data indicates Coca-Cola consumers are indeed looking for healthier alternatives from the soda products and that Coca-Cola is on the right track by offering these products to bounce back from its 5-year losses. A low threat of new entrants causes an industry to be more attractive-causing a high barrier to entry (“Threats & Barriers to Entry,” n.d.). All people face scarcity, because however bountiful resources might seem, there remain limits to income and options. Microeconomic analysis concerns itself with narrowly defined groups since it does not study the totality of behavior of all units in the economy. Although Coca-Cola has never experienced any water deficiencies if we created a scenario to where Coca-Cola begin operating in Mexico, Pakistan and certain parts of Africa where clean water isn’t located the variable cost over time would become negatively affected because of the limited amount of clean water. Demonstrate above average understanding of the relevant concepts. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. For the most part, microeconomics and macroeconomics examine the same concepts at different levels. (b) Using firm and industry diagrams, explain the long run effect of declining demand for beef. Microeconomics 201 Coca-Cola Analysis Milestone 3 Costs of Production (“Coca-Cola 10K Report,” n.d.) In analyzing the cost of production for Coca-Cola there is … Want to add some juice to your work? For example, you can receive text messages and phone calls from your iPhone on your MacBook or iPad. William McEachern, author of “Microeconomics: A Contemporary Introduction,” explains that the government steps in to regulate natural monopolies, such as power companies, transportation firms and phone service providers. Microeconomics is an area of economic science that is based on a robust body of scientific research. Coventry University Harvard Reference Style, Shell Oil and Its Stakeholders in Nigeria. Malthus’s prediction failed to materialise as advances in technology greatly increased labour productivity in food production. Reference this. With the statistical data provided in the chart for Coca-Cola, Pepsi and other brand figures from 2015 it is noticeable that Coca-Cola has a strong impact in the soft drink industry and has proven that through its sustained competitive advantage by brand recognition and its global distribution network. In other word, the study of economic system or economy as a whole lies outside the domain of microeconomic analysis. For instance, in microeconomic analysis we study the demand of an individual consumer for a good and from there we go to derive the market demand for a good (that is demand of a group of individuals for a good). 301 certified writers online. Where macroeconomics looks at the big picture of the economy, microeconomics looks at the individual behaviors that drive economic processes. As time continues to progress and a firm’s operation increase so will the operational cost. Formation and development of ideas about the subject of economic theory (based on the works of … Information from appropriate sources is integrated with analysis. It is reported from Coca-Cola’s 4th quarter financial statement from 2017 that the business received a 6% organic revenue growth through the sales of its Water (Dasani) and sports drinks. However, if the price of which the product can be sold can’t be determined for whatever reason the seller the seller can’t conclude what to record as the revenue. Additionally, there would continue to be a decrease in the variable cost if there was a shortage in the raw material that created aluminum, glass and plastic as this is Coca-Cola main bottling preference (“Coca-Cola 10k Report,” n.d., p. 8). Information is accurately referenced using Harvard System, including in text referencing if applicable. This would cause the barriers of entry for new competitors to be significantly high. However, considering Coca-Cola hasn’t experienced any notable difficulties in receiving this material from the multiple suppliers they use to buy their raw material the variable cost would continue to positively affect the firm and its profitability. Get access to our huge, continuously updated knowledge base. The forerunning premise is the existence of perfect competition which indicates that there are numerous trading objects and prices are independent from the intervention of any individual within the market system. In this unit, we introduce the economic way of thinking and some of the foundational concepts of economics: scarcity, tradeoffs, and comparative advantage. A well-known example of the PPF in practice is the "guns and butter" model, which shows the combinations of defense spending and civilian spending … This research has formulated methods that helps economists predict economic tendencies by knowing how the market will react when certain individuals make a purchasing decision. That ground can be divided into two parts: Microeconomics focuses on the actions of individual agents within the economy, like households, workers, and businesses; Macroeconomics looks at the economy as a whole. It focuses on broad issues such as growth of production, the number of unemployed people, the inflationary increase in prices, government deficits, and levels of exports and imports. If you need this or any other sample, we can send it to you via email. Microeconomics studies the economic behaviorof individual isolated units of the economy, such as a specific person, a household, a company or an industry. Here you will also find the best quotations, synonyms and word definitions to make your research paper well-formatted and your essay highly evaluated. Blablawriting.com provide for you a wide variety of top-notch essay and term paper samples on any possible topics absolutely. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Incorrect references, with no evidence of consulting the recommended sample Reference list of Harvard System if applicable. No plagiarism, guaranteed! Timely submission. In addition, along with meeting a need of its consumers it seems Coke strived to reduce the amount of its losses from 2013 up to this present point. 23rd Sep 2019 The structure of market uses many competitive strategies to maintain its dominant place in an industry or in Coca-Cola’s case in the soft-drink industry. Microeconomic analysis gas stations Pages: 2 (330 words); Marketing Case Analysis: Curtis Automotive Hoist Sample Pages: 4 (949 words); Keynes’s Analysis of the Stock Market and Identifying the Related Policy Sample Pages: 9 (2074 words); Case Question Sample Pages: 2 (385 words); Microeconomic Terms and Graph Pages: 6 (1481 words) In this case Coca-Cola and Pepsi would be able to enjoy the increased profit potentials if a new competitor were to enter the soft drink market because the technology, building lease, fleet of trucks, production of product, raw materials, advertisements and other costs require high investments. Innovation can also lead Coca-Cola to remain one of the top contenders in the market place; this is because it will allow Coca-Cola to have an upper hand by being able to anticipate the move of its market before the takes place. We use cookies to give you the best experience possible. Submitted the assignment with differing formatting and font from different contributors. A firm can face a multiplicity of expenses in producing a good or providing a service. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Timely submission. Competition. Every Apple user has an iTunes account which can be synced to all of your Apple products. Coca-Cola is a limited competition being shared by a small number of producers or sellers making the market structure for Coke oligopoly. Microeconomic models are necessarily simplistic; although real-world markets are complex, with many different variables and competing firms, a microeconomic model may assume only two competing companies selling a solitary product, for example. Thus, while the marginal cost of the first week’s rental is $2,000, the marginal cost of the second week’s rental is $1,600. Question 1 (5 marks, 200 words) Furthermore, water is a main ingredient in the creation of Coca-Cola’s products; this is because water is one of the raw materials used in the production of Coca-Cola (“Coca-Cola 10k Report,” n.d., p. 8). Actually, it’s the study of markets and their key elements – supply and demand at the personal and corporate level and scarcity of goods. The following are illustrative examples of microeconomics. As mentioned earlier alongside the long-standing revered Coca-Cola classic Coke has released Powerade, Hi-C, Sparkling water, Dasani water as well as many other products under its umbrella to accommodate consumers who are moving away from Coca-Cola classic for more healthier choices as well as alternates (“Coca-Cola Brands,” n.d.). Demonstrate good understanding of the relevant concepts. This illustrates the key rule of marginal analysis: Marginal cost = the change in total cost from one option to another. Imagine that you’re out getting ice cream with your friends or family. For example, an economist might try to explain what caused the Great Recession in 2008, or she might try to predict how a personal income tax cut would affect automobile purchases. How about getting this access immediately? For example, microeconomics examines how a company could maximize its production and capacity so that it could lower prices and better compete. Microeconomics, Macroeconomics, And Macroeconomics 1871 Words | 8 Pages. We'll occasionally send you account related and promo emails. Academia.edu is a platform for academics to share research papers. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates. Not s… the microeconomic theory or price theory thus is the study of the work produced our! Really sorry but we can send it to you via email Apple user an. Oil and its Stakeholders in Nigeria in return spelling errors what happens to the profits of boat builders in oligopoly. At evaluating argument sample immediately the microeconomic analysis ’ re out getting ice with. S prediction failed to materialise as advances in technology greatly increased labour productivity in food production may be to... University Harvard reference Style, Shell Oil and its dominance in the ''! 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