For monopolistic competition and oligopoly, firms can achieve product differentiation through sounds that are associated with one good or service.
Our everyday economics includes competition, progressive taxes, free trade, externalities, sunk cost, productivity, supply chain, incentives, & tradeoffs.
Worried about losing sales to upscale brands, Starbucks is using competitive strategies to increase demand from affluent customers.
Our everyday economics includes property rights, sovereign debt, default,, externalities, regulation, Pigovian taxes, incentive, state taxes, and oligopoly.
With the competitive market structure of the movie business changing from less to more competition, movie content from major studios is less innovative.
Through a behavioral economics lens, our reaction to a price relates to a frame or reference point that creates an association with a gain or a loss.
Our everyday economic stories involve participation rates, human capital, signaling, ROI, money, price, austerity, personal income, monopoly and bubbles.
Because the college textbook market is a monopoly for each book in which the instructor selects the books and students buy it, prices have skyrocketed.
This week’s everyday economics involved 6 economists and such ideas as product differentiation, behavioral economics, marginal utility, price and trade.