Economics - Product Differentiation in Monopoly Essay Example for Free

Economics Product Differentiation in Monopoly Essay Monopolies are firms that are the sole or dominant suppliers of a good or service in a given market. And what sets apart monopolies from competitive firms is â€Å"market power†- the ability of a firm to affect the market price. Price discrimination is the business practice of selling the same good at different prices to different customers, even though the cost of production is the same for all customers. Only monopolies can practice price discrimination, because otherwise competition would prevent price discrimination. Price discrimination increases the monopolist’s profits, reduces the consumer surplus and reduces the deadweight loss. (the buyers of the lower-priced product should not be able to resell the product to the higher-priced market. Otherwise, the monopoly will not be able to maintain price differentials. ) The monopolist must be able to identify segments of the market that are willing to pay different prices, and then market its products accordingly. A common technique to achieve this is by making it harder to get the lower prices, since wealthier consumers value their time more than their money. Some ways the monopolistic firms can implement discriminatory pricing are; †¢Linear Approximation Technique or Markup Pricing Technique †¢Personalized Pricing – extracting the maximum amount a customer is willing to pay for the product. †¢Coupons and Rebates – providing coupons to attract more customers or providing personalized discounts. †¢Bulk pricing – offering lower prices when customer buys a huge quantity of the same product. †¢Bundling joining products or services together in order to sell them as a single combined unit. Block pricing Charging more for the first set of the product, then less for each additional product bought by the same consumer. †¢Group Pricing- charging different customers different price based on factors such as race, gender, age, abilities etc. and also â€Å"psychographic segmentation†- dividing consumers based on their lifestyle, personality, values, and social class. †¢Charging different prices based on geographic location. Some products may be cheaper to produce in different places and based on the cost of the good sold the monopolistic firm can charge different prices in order to maximize its profits. Placing restrictions or other inferior characteristics on the low-price good or service, so as to make it sufficiently less attractive to the high price segment †¢Establishing a schedule of volume discounts (â€Å"block pricing†) such that only large-volume buyers (who may have more elastic demands) qualify †¢Using a two-part tariff, where the customer pays an up-front fee for the right to buy the product and then pays additional fees for each unit of the product consumed.

Magic Realism in One Hundred Years of Solitude

Magic Realism in One Hundred Years of Solitude Magic Realism is a term found by art historian Franz Roh in 1925, to describe a visual arts movement emerging throughout Europe. It is known that a large number of critical terms in literature are borrowed from painting. Magic Realism is one of those terms. The usage of that technique leads the author make the themes and subjects are more imaginary, outlandish and with a fantastic dream like quality. Gabriel Garcia Marquez, who is the author of One Hundred Years of Solitude, does not like to be considered a writer of Magic Realism, even it is clear to see Magic Realism technique in his novel, he claims only to be realist without much exaggeration in his work. He states, As the final judgment runs, the source of all creation is reality. In One Hundred Years of Solitude for example, the banana company treats its workers so badly that they all go on strike. They gathered in the main square of the town, where the government has them surrounded by soldiers armed with machine guns. When the crowed refuses to disperse, the order is given to open fire, and three thousand people are killed. Their corpses are, then, put into the trains and sent off to the sea, and the whole incident is officially denied to the point that Jose Arcadio Segundo finds it impossible to persuade anyone that it has taken place. For a European observer, the ability of a government to hide such incidents is indeed unbelievable. However, in Latin America, as well in the most of the third world countries, the situation is still worse than can be imagined. To the eye of European and North American common sense, the career of the Central character in One Hundred Years of Solitude Colonel Aureliano clearly belongs to the realm of magic and fantasy and not of reality. For, in the course of his career he, Organized thirty two armed uprisings and he lost them all, he had seventeen male children by seventeen different women and they were exterminated one after the other in a single night he survived fourteen attempts on his life, seventy three ambushes and a firing squad. He lived through a doze of strychnine in his coffee that was enough to kill a horse. He refused the Order of Merit He rose to be the commander in chief of the revolutionary forces with jurisdiction and command from one border to the other and the man most feared by the government Although he always fought at the head of his men, the only wound that he received was the one he gave himself. He shot himself in the chest with a pistol and the bullet came out through his back wi th out damaging any vital organ. (MÃ ¡rquez, 2003) Early in the novel, a mysterious girls arrives who either cannot or will not speak and whom they call Rebecca. She brings with her the sickness of insomnia of which the most fearsome part, as an Indian woman explains, was not the impossibility of sleeping, for the body did not feel any fatigue at all, but its inexorable evolution towards a more critical manifestation; a loss of memory. Melquiades, a man of letters discovered its remedy but before him, Jose Arcadia has already invented a memory machine in which he has recorded almost fourteen thousand entries. World, in this way, becomes a slave of dictionary as it refuses all possibility of change by overcoming the loss of memory. It is not difficult to count a number of reasons for these apparently incredible details, which Gabriel Garcia Marquez provides in his work, but the most convincing one is, perhaps the obvious mundane purpose of enabling him to avoid censorship. Marquez technique has also been described as a kind of narrative hyperbole which seeks to expand the sensibility with which we perceive the world we live in. In One Hundred Years of Solitude, Marquezs characters are often endowed with a kind of supernatural power. Aureliano can see the future. Remedios The Beauty is taken up into the clouds as a divine being. Melquiades survives death, and stays on earth as a ghost. Ursula chooses not to die and lives for over a hundred years. In One Hundred Years ofnSolitude, if the resolution is strong enough, nothing can overpower it. It is perfectly possible for people to have power over even death. The characters struggle to create and define their own worlds, their fight is against time, history and fate. It could be said that Marquez endowment of his characters with special power is an illustration of our powerlessness against forces which remain outside our control. By crossing the border of normal possibility, Marquez reminds us of the limit ations of our own real lives, but also of the possibility of viewing the world in an entirely different way. Marquezs characters struggle to control, and to create their own world. It is through this act of creation that we can truly escape the forces in life over which we have no control. Marquez suggests that literature is the means by which we can gain understanding of a world-view different from our own, and therefore an understanding of our common humanity. While politics and ideology have the power to de-humanise, literature has the power to remind us of our humanity. Through imagination, and art, we can be elevated from the restrictions we face in day to day life, and we can also be enlightened as to the true potential of our lives, and our own individual power to create and shape our own destinies. Bibliography MÃ ¡rquez, G. G. (2003). PURPLE PATCH: Liberal Paradise . Retrieved from Daily Times: http://www.dailytimes.com.pk/default.asp?page=story_3-12-2003_pg3_7

Comparing the Brothers Antigone and Ismene in Antigone :: Sophocles

The personalities of the two sisters, Antigone and Ismene, are as different from one another as night and day. Antigone acts as a free spirit, a defiant individual, while Ismene is content to recognize her limitations as a woman in a male dominated society. In the Greek tragedy†Antigone", by Sophocles, Antigone learns that King Creon has refused to give a proper burial for the slain Polyneices, brother of Ismene and Antigone. Infuriated by this, Antigone shares the tragic news with Ismene. From her first response, "No I, haven’t heard a word"(13). Ismene reveals her passivity and helplessness in the light of Creon's decree. Thus, from the start, Ismene is characterized as traditionally "feminine", a helpless woman that pays no mind to political affairs. Doubting the wisdom of her sisters plan to break the law and bury Polyneices, Ismene argues: â€Å"Remember we are women, not born to contend with men .† (75) Once again Ismene's words clearly state her weak, feminine character and helplessness within her own dimensions. Antigone, not happy with her sisters response chides her sister for not participating in her crime and for her passivity, saying, â€Å"Don’t fear for me. Set your own life in order"(97) . For Antigone, no law could stand in the way of her strong consideration of her brother's spirit, not even the punishment of an early death. Ismene is more practical, knowing the task is impossible, she feels the situation to be hopeless. It is a wonder, which of the two sisters are really guilty of these chronic charges. Of course, Antigone acted so quickly, and failed to take the advice of the moderate sister, Ismene. Instead, going against Creon's words, Antigone rashly goes ahead and breaks the law. Antigone is a fool, she must learn that such defiance, even when justified, is not conductive to longevity. Although Antigone is foolish, she is also courageous and motivated by her morals. Proper burial of the dead was, according to the Greeks, prerequisite for the soul’s entrance into a permanent home. Therefore, perhaps Ismene is also foolish for her quick refusal to help Antigone perform the duty of Polyneices proper burial. Ismene definitely seems hasty in her acceptance of personal weakness. Perhaps in some way, both sisters are guilty of the same tragic sins. Perhaps it is this rashness, more subdued in Ismene's case that leads both sisters to their own destruction.

Chicago Hope Essay :: essays research papers

Chicago Hope Essay Chicago Hope is a TV Drama. The show uses camera shots and angles', lighting, dialogue and characters to portray the attitudes and values of the director. These are also used to push across themes. The values and attitudes that are strongly pushed across in this episode are Relationships, Law and order, gender and race and Men's health. A major relationship that is focused upon in this episode is the one between Dianne and Margaret, who is supposedly Dianne's lost mother. The fact that Margaret gave Dianne up for adoption at birth means that this reunion will be a very delicate one. The close up of Dianne in the car before she gets out the car to met her mother shows her feelings and makes it known that this is an important moment for both mother and daughter. The extreme close up when Dianne says 'I'm the daughter'; shows us the full impact of the statement and it makes us feel for Dianne and what she is going through at that moment. When Dianne is in the bathroom and she opens the cabinet it frames her face, when she closes it and there are two figures in it. We are filled with shock, and the suspense of what will happen to her next keeps us involved and interested in the show – the music that is playing in this scene also adds to the dramatic tension. The next part of this story line sees Margaret talking about how she knows abit about medicine because she had a hysterectomy. By mixing up the dates we start to feel that something isn't quite right. While Margaret is talking about the hysterectomy and how there we complications we are being lead toward the attitude that doctors aren't always right nor are they Gods. In the shower scene there are sound effects of creaking taps, water-running and so on, this gives us the impression of a creepy old house. The close up of Dianne with the silhouette in the background gives us the feeling that something bad is about to happen and that she is going to be the poor unsuspecting victim. This scene is exactly the same as the shower scene in Alfred Hitchcocks' 'Psycho';. When Dianne has found out that Margaret is really Alfreda Perkins, Billy wants to leave but before they can Margaret comes out with a knife. This immediately makes us think that she is going to turn out like the psycho lady we think she is.

Hawthornes Young Goodman Brown - Moral and Philosophical Considerations :: Free Essays on Young Goodman Brown

Young Goodman Brown: Moral and Philosophical Considerations The terror and suspense in the Hawthorne story function as integral parts of the allegory that defines the story's theme. In allegory (a narrative containing a meaning beneath the surface one), there is usually a one-to-one relationship; that is, one idea or object in the narrative stands for only one idea or object allegorically. A story from the Old Testament illustrates this. The pharaoh of Egypt dreamed that seven fat cows were devoured by seven lean cows. Joseph interpreted this dream as meaning that seven years of plenty (good crops) would be followed by seven years of famine. "Young Goodman Brown" clearly functions on this level of allegory (while at times becoming richly symbolic). Brown is not just one Salem citizen of the late seventeenth century, but rather seems to typify mankind, to be in a sense Everyman, in that what he does and the reason he does it appear very familiar to most people, based on their knowledge of others and on honest appraisal of their own behavior. For example, Goodman Brown, like most people, wants to experience evil, not perpetually, of course, for he is by and large a decent chap, a respectably married man, a member of a church, but he desires to "taste the forbidden fruit" ("have one last fling") before settling down to the business of being a solid citizen and attaining "the good life." He feels that he can do this because he means to retain his religious faith, personified in his wife, who, to reinforce the allegory, is even named Faith. But in order to encounter evil, he must part with his Faith at least temporarily, something he is either willing or compelled to do. It is here that he makes his fatal mistake, for evil turns out to be not some abstraction nor something that can be played with for a while and then put down, but the very pillars of Goodman Brown's worldhis ancestors, his earthly rulers, his spiritual overseers, and finally his Faith. In short, so overpowering is the fact and the universality of evil in the world that Goodman Brown comes to doubt the existence of any good. By looking upon the very face of evil, he is transformed into a cynic and a misanthrope whose "dying hour was gloom." Thomas E. Connolly, in "Hawthorne's 'Young Goodman Brown': An Attack on Puritanic Calvinism" (American Literature, 28 [November 1956], 370-375), has remarked that Goodman Brown has not lost his faith; he has found it.

People attend college or university for many different reasons Essay

People attend college or university for many different reasons (for example, new experiences, career preparation, increased knowledge). Why do you think people attend college or university? Use specific reasons and details to support your answer. People attend college or university for many different reasons. However, in my opinion, I think that people attend college or university because they want to prepare for their career and to increase knowledge. Now I elaborate the two reasons why I think this way. The first reason why I think people attend college or university is because they want to prepare for their career. These days, a lot of people try to go to famous or high quality colleges. By entering the college, it proves that the person had worked hard to enter the college and has absorbed high quality knowledge from the college, which helps the person to get the career the person wants. Because a lot of companies want the best worker they can get to enhance the value of the company. Therefore, by attending college or university, people can get careers easier. This is the first reason why I think that people attend college or universities to prepare for their career. The second reason why I think people enter college or university is because they want to increase their knowledge. Colleges and universities provide the best information and knowledge for the students to learn. By taking high quality classes from college, they will get more intelligent. Plus, students will learn life lessons and experiences which will help them next time when they are in a same situation in the future. Students will be wiser than they were before, taking a step closer to getting a career they want, and another step closer to success in life. Therefore, people attend college or university to gain more knowledge. There are various reasons why people enter college or university. However, the two reasons above clearly states that I believe people attend to college to enhance their knowledge and to prepare for their career.

Eli Whitney and Interchangable Parts

U. S. History–Presentation for 10/25/11 on â€Å"Eli Whitney and interchangeable parts† In the late 1700s, in addition to inventing the cotton gin, Eli Whitney also came up with the idea for interchangeable parts. This was the pre-manufacturing of machinery pieces that could be quickly assembled to make a functioning piece of equipment, such as a gun. Before Whitney, each gun had to be handcrafted, and each one was different in its assembly.This meant that it took a long time for them to be made or repaired. When Congress voted for a war with France in 1797, Whitney saw an opportunity to market his idea because he knew a lot of guns would be needed to fight the war. Whitney obtained a federal grant from the government in 1798 to build 10,000 muskets for the army in 2 years, which was a ridiculous proposal for the time period.He applied the idea of interchangeable parts to the production of firearms and created a machine that could make exact copies of individual compone nts of guns. These could then be assembled faster and more efficiently, thus saving the government time and money. Although it took him eight years to complete the project instead of two, Thomas Jefferson and John Adams among others were both impressed with Whitney’s invention when he came to the Washington area to defend it.News of the success of interchangeable parts spread quickly, and by the War of 1812, the leading firearms manufactures in America were using the system to produce weapons at an alarming rate. By the 1950s, firearms manufactures around the globe had adopted interchangeable parts thanks to America’s success. Whitney’s breakthrough also affected and helped to develop other industrial activities. Cars, sewing machines, clocks, and typewriters were all being assembled with interchangeable parts. This also would lead to the rise of the assembly line.