ANAND INSTITUTE OF MANAGEMENT

A PROJECT FOR CASE STUDY

ECONOMICS FOR MANAGER

PRESENTED BY : VAGHELA ALPESH K. [Enrollment no. 117020592044]

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CASE: 1 PRICING ADMISSION TO A MUSEUM

SUMMARY : This case is depending on the elasticity of demand. In inelastic, price is increasing, no change in demand and increase the total revenue. In elasticic,price is increasing ,change in demand is decrease and total revenues is decrease Concept: Price elasticity of demand

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SUMMARY Monopoly remains any sellers in its market because other firm cant enter in the market and compete with it. In the example given of south American diamond co. DeBeers control 80%of world production of diamond although firm market share his not 100%. The market power of DeBeers depends on substitute of its product. If price of DeBeers rise going towards or with substitute. DeBeers pay large amount on CASE 2: THE DEBEERS DIAMOND advertisement. DeBeers will cover greater market power.

MONOPOLY
Concepts:-

In this case monopoly concept is applied

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CASE 3:NEAR EMPTY RESTAURANTS AND OFF SEASON MINIATURE GOLF SUMMARY :
In off season empty restaurants owner keep in mind variable and fixed cost. Fixed cost remains fixed at any time and variable cost fluctuate. If owner cower variable cost means revenue than continue the restaurant and if customers not came for lunch or dinner than owner shut down the restaurant. Same case happen with miniature golf should be open for business only during those time when revenue exceeds variable cost. Variable cost and fixed cost concepts are Concept:applied in this case
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CASE 4 :OPEC AND THE WORLD OR MARKET

SUMMARY : In the given example of OPEC country produces and cover world's oil market OPEC tries to raise price by reducing quantity produced but OPEC faces problems of co-ordination because each member template to increase larger share of profit so OPEC was successful maintaining co operation up to same period but after price of crude of oil fallen. In 2005 OPEC countries were not able to gain high profit in world market so different OPEC member can't co operate. Concept:Game theory and the economics of co-operation concepts

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CASE 5 : ADVERTISING AND THE PRICE OF EYEGLASSES

SUMMARY : Advertising might make consumers view products as being more different than they otherwise would. It would make markets more competitive and firms demand curves more elastic and this would lead to lower prices. Benham used the differences in state law as a natural experiment to test the two views of advertising. Concepts:This case applied the advertising concepts

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CASE 6 : INTERNATIONAL DIFFICULTIES IN GDP AND QUALITY OF LIFE

SUMMARY : GDP is measure of economic condition of country . GDP of countries depend on its ability to produce goods and services therefore poor and rich countries have vast difference in their GDP countries with low GDP per person tend to have more infants, lower standard of living and low education and countries with high GDP opposed from poor countries. Concept:GDP concepts are applied in this case
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CASE : 7 THE MICROSOFT CASE

SUMMARY :

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K N A H T U O Y
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