The Substitute

sellers offer heterogeneous products (different products but has close substitutes) for sale to buyers. The term monopolistic competition was coined by Prof. Edward H. Chamberlin of Harvard University in 1933 in his book, Theory of Monopolistic Competition. Monopolistic competition is currently the most realistic situation that exists in the market. Monopolistic competition can be defined as a competitive scenario where close substitutes are offered to consumers in the market. For example,…

competition in the different aspects of the market and disturb the actual working. Here are these porter’s five forces. 1. The Threat of Substitute Products: In the competitive market, there is always a threat to the seller about the substitute that if he will increase the price then the customer will definitely move towards the similar products or substitutes of that product. This thing keeps the sellers too much attentive about the customer’s satisfaction in the market competition so that his…

Number of firms in the market – more firms in the market will result in more product available at a given price (Hubbard and O’Brien 2015). Keurig Green Mountain has a large number of competitors in the same market which created a vast amount of substitutes for consumers to choose from. Expected future prices – If a company anticipates the price of its product will be higher in the future, it might decrease its supply today…

seen when Doris cleaned her up after discovering some cuts on her arms. Though it was a nice gesture, the substitute is supposed to avoid contact with bodily fluids unless absolutely needed. In this case, it didn’t seem to be an emergency that required her physical contact. Therefore, Doris was not complying with school rules and regulations. When given medication from a parent, the substitute should have redirected him to the office. Therefore, the…

b. To consider whether or not each of the determinants of elasticity would make a demand for a good to be more elastic, let choose the movies as a good. From the availability of substitutes, movies have more elastic demands because, in the case of where the price has been increased, there are alternatives to watch perhaps the same movie for a lower price. In regards to the time, if a particular movie on DVD cost $20 for an extended period, it would have more elasticity of demand because people…

Dr. Kamerzell presented the administrative proposal for the FY 2019 Maintenance and Operations (M&O) budget. This budget recommendation maintains all student programs and services at their current level as well as the district staffing formula that defines the student-to-teacher ratio in district schools. There was also a proposed new budget allocation to increase the district’s elementary counselor staffing by 2.0 FTE positions. The proposal originates from the district’s K-12 counseling…

Phentermine Substitutes You should never over do anything and taking phentermine substitutes is one of them. But what do you use instead of it? Now that you have lost a ton of weight, you want to keep it off and I don't blame you. Who goes through all of the agony of losing 50-60 pounds only to gain it all back? Not you, right? Well, we must introduce you to a new phentermine or phentermine substitute and something that will give you a steady stream of energy. Phentermine is an FDA…

However, since it is also important to note that PowerBand also faces several substitutes and rivals to compete for the market share, our company needs to use strategies such as intensive promotion to deliver positive altitude to consumers in the short run. After the product is differentiated, the power of buyer could be reduced by the…

society do if there was no plants to make oxygen? How would we survive? Today, society takes bees for granted and so they started capturing them and keeping them to pollinate and make honey and instead of using pollen, beekeepers started using substitutes to feed the bees. Huang states, “Honey bees are unequivocally the most important insect pollinator for humankind” (2012). If society does not take care of its bees then we will not have a future and the best way to do that is through pollen.…

other. On the other side, if the price of goods rise but there are substitutes and these substitutes remain…