Our Services

Get 15% Discount on your First Order

[rank_math_breadcrumb]

Unit 7 Complete

1600 words MINIMUM (NOT including cover/reference pages or questions) Requirement is at least five scholarly articles, ONE maybe the course textbook BELOW.

Textbook(s)

Ferrell, O.C., & Hartline, M. D. (2017). Marketing strategy: Text and cases (7th ed.) SouthWestern/Cengage Learning.

Unit 7 Complete

General Instructions

The Tampa Tribune and the St. Petersburg Times compete for readers in the Tampa Bay market for newspapers. Recently, both newspapers considered changing the prices they charge for their Sunday editions. Suppose they considered the following payoff table for making a simultaneous decision to charge either a low price of $0.50 or a high price of $1.00. Tampa’s profits are shown in regular type. St. Petersburg’s profits are shown in bold.

For questions 1 – 10, choose the correct answer to fill in the blanks. Use the suggested words in parentheses after each blank. A detailed explanation must be given to defend each choice.

1. Tampa Tribune’s dominant strategy is ____________ (low price, high price, it has no dominant strategy)

2. St. Petersburg Times’ dominant strategy is ____________ (low price, high price, it has no dominant strategy).

3. Tampa Tribune’s dominated strategy is ____________ (low price, high price, it has no dominant strategy).

4. St. Petersburg Times’ dominated strategy is ____________ (low price, high price, it has no dominant strategy).

5. This newspaper pricing decision ________ (is, is not) a Prisoners’ Dilemma.

6. Is there a Nash Equilibrium in this game? If so, which cell(s) is/are the Nash? Is/are the Nash Dominant Strategy Equilibrium?

7. Which cell(s) is/are strategically stable?

Use the following game to answer questions 8-10. Be sure to show all of your math step-by-step.

Alcoa and Kaiser, duopolists in the market for primary aluminum ingot, choose prices of their 500 foot rolls of sheet aluminum on the first day of the month. The following payoff table shows their monthly payoffs resulting from the pricing decisions they can make.

Suppose Alcoa and Kaiser repeat their pricing decision on the first day of every month. Suppose they have been cooperating for the past few months, but now the manager at Kaiser is trying to decide whether to cheat or to continue cooperating. Kaiser’s manager believes Kaiser can get away with cheating for two months, but he also believes that Kaiser would be punished for the next two months after cheating. After punishment, Kaiser’s manager expects the two firms would return to cooperation. Kaiser’s manager ignores the time-value of money and does not discount future benefits or costs.

8. What is the monthly gain to Kaiser from cheating? What is the present value of the benefit from cheating for the two months of cheating?

9. What is the monthly cost of punishment to Kaiser? What is the pres­ent value of the cost of cheating for the two months of punishment?

10. Will Kaiser cooperate or cheat? Explain.

11. Suppose you were asked to manage a golf course that was currently charging a uniform price. Would you suggest that the course continue with this price plan or switch to a two-part pricing plan? Explain your decision and how you would choose the optimal price.

image1.png

image2.png

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Deliverable 2 – Develop an Advocacy Report

  Scenario You are the director of community affairs for the health lobby organization, Pathways to a Healthy America. In 2010, President Barack Obama signed the Affordable Care Act into law. As a result, millions of Americans who were previously uninsured gained access to the healthcare system. One of the

D7

Research and find any free organizational culture quiz. Some free quiz sites are provided below, but feel free to search and use your own quiz. · Culture QuizLinks to an external site. · What’s Your Organizational Culture? Links to an external site. Take the quiz and then copy/paste your results into

W2

Team Effectiveness in the Workplace Instructions Teams and their use in organizations seem to have varying degrees of success. We all know what a successful athletic team looks like. Managers often times try to translate that structure and in turn success back to the organization by organizing their employees in

4.2222

  Watch the “Lack of Commitment” video. on Youtube Post your response in a conversational tone and narrative form. When there is not a natural consensus- can you disagree as individuals and commit as a team? What Scriptures or other faith-based references support this concept? 

Virtual Teams

 What are some challenges managers face when communicating with virtual teams? 

ADD TO RESUME

KRYSTEL BERGHER PROFILE Accomplished Customer Service Expert committed to the delivery of quality service. Professional and Ethical. Seeking to assist or help a new customer service department in creating and achieving the much-needed customer service goals. CONTACT ADDRESS: 15851 Southwest 139th Place, Miami FL 33177. PHONE: 305-992-6010 EMAIL: [email protected] om

Economic & Marketing

Homework  Sustainability, Social Impact, and the Bottom Line Think about a product or service you recently purchased that originated from a company whose Mission includes a focus on sustainability or social impact. In other words, a company that “does well by doing good.“ Then read and reply to each of the prompts

BUS 3301 Unit VII Q12

Business Law BUS 3301 VII Question 12 The principal agent relationship, the employer-employee relationship, and the employer-independent contractor relationship are three types of agency relationships commonly found in business settings. Why is it important for business professionals to know what type of agency relationship they are forming?   Your response must

ITC_3303 E

Information Systems Management ITC 3301 Unit VII Essay In this final assignment, you will develop a paper that reviews some of the main topics covered in the course. Compose an essay to address the following: · Identify the components of an information system using the five-component framework and provide a

BUS 3301 Unit VII Q11

Business Law BUS 3301 VII Question 11 Have you ever bought something, paid for it, and arranged to have it delivered to you at a later date? That is a fairly typical transaction, and, under the Uniform Commercial Code (UCC), a delivery contract is created. However, it is a little

case

  1. How did Apple’s introduction of the IPhone in 2007 lead to its success over its main competitors? Think about which industries it has disrupted and how. 2. What are some the challenges facing Apple today? What should Apple do to address them? Be Specific.

Enviromental Analysis

Creating a mission vision instruction and an organizational chart Creating an Organization Chart BUS 100 Introduction to Business Organization Chart Instructions Organization Chart Create a hierarchy (think inverted tree) with the top decision maker at the top. Identify the different levels of management down to non-management roles. Determine if you

Strategic Financial Management

Project Overview: In the previous project part, you developed a flexible (flex) budget based on an unforeseen expense provided to you by your professor. For this project part, you will take things one step further by determining ways to reduce spending in different areas or aspects of your business.  Using

Strategic Financial Management

Project Overview: In the previous project part, you developed a flexible (flex) budget based on an unforeseen expense provided to you by your professor. For this project part, you will take things one step further by determining ways to reduce spending in different areas or aspects of your business.  Using

Please see attached – need in 24 hrs

Select 1 well-known business you would like to research and use as the basis for developing a marketing campaign. Refer to the following resources, as needed, for assistance selecting a business and locating information about it: · Marketing professional organizations, such as  4 A’s  website or  American Marketing Association  website  

CJ 2500 MOD 6 FINAL

INSTRUTIONS ATTACHED TOPIC TO DISCUSS How gps tracking units placed on cars can be obtained by law enforcement consistent with the 4th amendment and how such devices can help criminal investigations? Remember there must be critical analysis from you I the paper and not just a book report. Overview: A

week 3 pending

pfa TASK 1: By Tuesday Evening Reflection and Discussion Forum Week 3 Assigned Readings: Chapter 8. Understanding Markets and Industry Changes. Chapter 9. Market Structure and Long-Run Equilibrium. Chapter 10. Strategy: The Quest to Keep Profit from Eroding. Initial Postings: Read and reflect on the assigned readings for the week.