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. Late submission. For exam- Title Page—Name, course, and date; Introduction to situation, but do NOT copy the scenario.Briefly summarize the situation and identify the microeconomic issue(s) to be decided from the perspective of the organization. No problem! Furthermore, new competition would not likely have much of a negative effect on Coca-Cola considering Coke along with Pepsi is a leading competitor in the market. In other word, the study of economic system or economy as a whole lies outside the domain of microeconomic analysis. We're here to answer any questions you have about our services. With the information provided it is determined that Coca-Cola suffered a 19.97% loss in their cost of goods production. The curve joining the points PAQ above is from the set of sample data points’ in the Excel sheet (Right Click on the Chart after inputting the sample data points – Change Series Chart Type – Scatter Plot). The following are illustrative examples of microeconomics. Question 3 (5 marks, 200 words), Many boats are made of fiberglass, which is derived from petroleum. Answer: Introduction. Microeconomic analysis functions through modeling and by emphasizing interests. Question 2 (5 marks, 200 words) Explain. Timely submission. For the most part, microeconomics and macroeconomics examine the same concepts at different levels. The microeconomic analysis deals with individual economic variable and there are three types of such analysis as given below; 1. 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. One reason Coca-Cola noticed a decrease in their figures from 2013-2017 is because consumers are shifting to more healthier brands i.e., they were beginning to choose less of the surgery and carbonated beverage all together. This illustrates the key rule of marginal analysis: Marginal cost = the change in total cost from one option to another. These conditions may seem to be rational, but in reality some deviations are also permitted. How about getting a customized one? Jump the queue with a membership plan, get unlimited samples and plagiarism results – immediately! Demonstrate thorough understanding of the relevant concepts. Another … or resellers. We have received your request for getting a sample.Please choose the access option you need: With a 24-hour delay (you will have to wait for 24 hours) due to heavy workload and high demand - for free, Choose an optimal rate and be sure to get the unlimited number of samples immediately without having to wait in the waiting list, Using our plagiarism checker for free you will receive the requested result within 3 hours directly to your email. Optimizing resources when demand lowers will help cut cost when business is down and prevent a surplus in the supply curve; this could also be done through the help of innovation. Do such technological advances contradict the law of diminishing marginal returns? Information from appropriate sources is integrated with analysis. You would be able to connect the points PAQ through a curve. 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. Originally when Asa Candler purchased Coca-Cola, he used a variety of marketing strategies to build consumers awareness of the brand by giving free Coke coupons, Coke glasses, Coke T-shirts and more. As time continues to progress and a firm’s operation increase so will the operational cost. Reference this. con ” (Henningsen and T oomet, 2005) and provides tools for microeconomic analysis. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. 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 article analysis example will intend to address the current economic challenges of the US economy along with emphasize upon the consequent future economic issues StudentShare Our website is a unique platform where students can share their papers in a matter of giving an example … Your paper should be organized into five parts as listed below. This would cause the barriers of entry for new competitors to be significantly high. Blablawriting.com provide for you a wide variety of top-notch essay and term paper samples on any possible topics absolutely. 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. Study for free with our range of university lectures! 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) 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 … Economists use models as the primary tool for explaining or making predictions about economic issues and problems. 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. This data would extend to PepsiCo. The microeconomic theory or price theory thus is the study of individual parts of the economy". Our academic experts are ready and waiting to assist with any writing project you may have. (b) In what sense is it not a ‘good’ way to raise revenue? Coca-Cola revenue is recognized when a persuasive evidence of arrangement exists (“Coca-Cola 10k Report,” n.d., p. 79). Operating cost is affected through time rather it be positively or negatively. 301 certified writers online. We'll occasionally send you account related and promo emails. We are really sorry but we cannot send the sample immediately. VAT Registration No: 842417633. Do you have a 2:1 degree or higher? We have received your request for getting a sample. Well formatted, edited, and minimal grammatical and spelling errors. 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! 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. For Coca-Cola to sustain its success and its dominance in the oligopoly structure the organization needs to optimize when needed and acquire its competitors. Microeconomics 201 Coca-Cola Analysis Milestone 3. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. This is not an example of the work produced by our Essay Writing Service. Demonstrated ability to draw conclusions and attempts some justification for position with explanations. Where macroeconomics looks at the big picture of the economy, microeconomics looks at the individual behaviors that drive economic processes. 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. Additionally, this can help the organization extend its existing line of product quality. Information from appropriate sources is integrated with minimal analysis. All people face scarcity, because however bountiful resources might seem, there remain limits to income and options. Optimization is simply making the best or most effective use of a situation or a resource. Coca-Cola can see an increase through innovation, strengthening its relationship with their consumers, smart optimization through low demand periods and acquiring its competitors. Additionally, Coca-Cola needs to acquire its competitors this act has been used by businesses worldwide to help increase its profit margins. Want to add some juice to your work? 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. Would you like to get such a paper? Economics is made up of two smaller categories microeconomics, and macroeconomics. Additionally, as the economy continues to grow Coca-Cola will need to strongly penetrate the market to appeal to consumers tastes preferences; this can be done by offering more products that is unsegmented to reach a more diverse consumer demographic this would likely help increase Coca-Cola’s profit margin. Question 1 (5 marks, 200 words) (a) Thomas Malthus reasoned that because the amount of land is fixed, as population grows and more and more labour is applied to land, the productivity of labour in food production would decline, leading to widespread famine. Microeconomic decisions are made every day by businesses, customers and individuals making choices about what they wish to do. 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. Microeconomics is the study of the economic behavior of individuals, households and firms. Does not show an understanding of the requirements of the task or assignment is not submitted at all. Initially , the micEcon package included only tools for microeconomic modeling. 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. 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. Formation and development of ideas about the subject of economic theory (based on the works of … Demonstrate above average understanding of the relevant concepts. Every Apple user has an iTunes account which can be synced to all of your Apple products. To help manage its future production Coca-Cola could use an innovative strategy to help improve sales and customer relations; this could be proven true by improving or replacing the business processes to increase organizational efficiency and productivity. Despite the numerous competitors in the market with Coca-Cola through brand loyalty, crafty marketing strategies and innovation Coca Cola is a soft drink industry that has earned its dominance in the soft drink market. Explanations are clear and concise. 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, 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). Accurately reference relevant resources using Harvard System, including in text referencing if applicable. This field of study deals with factors that influence individual economic choices. Examples of a Microeconomic Decision. 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. 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