Market structure of the industry
Reflect on what you have learned in this course and have an opportunity to tie together many of the concepts and apply them to a real-world company. The objectives of this assignment are to (1) gain practice applying microeconomic theory, (2) become familiar with sources of economic of market information, and (3) present various economic concepts and apply to a firm. You will answer the following questions based on a company that you have identified. (It is important to pick a company that has relevant data that is easy to access. In addition, I'm leaving the company choice up to you, but my recommendation is that you don't choose a large company that has a hand in many industries (ex: Apple, Amazon, General Electric). Rather, the concepts are often easier to apply if you choose a company that is primarily focused on one key industry (ex: Ford Motor Company, Draft Kings, Starbucks)). Your final submission should be an 8-12 page paper formatted using APA style. You should use subheadings for each of the areas below to make it very easy for the reader to understand each of your points.
Your paper should include the following for your chosen company:
Identify the company by name and location
Identify the firm's primary industry
Describe the firm's customers (households, businesses, schools, governments, etc...)
Explain the major determinants of demand for the firm's primary product(s) or service(s)
Does the firm face elastic or inelastic demand with respect to its primary product(s) or service(s)? Why? Be sure to include a discussion of the key factors affecting the price elasticity of demand.
How would you describe the market structure of the industry in which your firm operates? You should address the key characteristics of that market structure, and how those characteristics pertain to your company. Make sure that you pick the correct market structure and are able to relate the market characteristics. Does the firm have pricing power? Why or why not?
pulation is projected to grow close to 1300 million by the year 2030. Due to incomplete combustion in the engine, there are a number of incomplete combustion products CO, HC, NOx, particulate matters etc. The pollutants have undesirable effect on air quality, environment and human health that tips in stringent norms of pollutant emission. As the technology keep on evolving and emerging, it carries along undesirable effects apart from its broad application and use. One of the main contributors is said to be the emission of harmful gases produced by vehicle exhaust lines. The number of vehicles miles travels per year continues to increase as a result of higher demand and needs. Consequently, an increase in the number led to the increase of the content of pollutants in air. Most vehicular transportation relies on combustion of gasoline, diesel and jet fuels with large amount of emission of carbon monoxide (CO), unburned hydrocarbons (HC), nitrogen oxides (NOx) and particulates matter (PM) are especially concern. HC and CO occur because the combustion efficiency is less than 100%. The NOx is formed during the very high temperatures (>1500 0C) of the combustion process resulting in thermal fixation of the nitrogen in the air which forms NOx. Typical exhaust gas composition at the normal engine operating conditions are: carbon monoxide (CO, 0.5 vol.%), unburned hydrocarbons (HC, 350 vppm),nitrogen oxides (NOx, 900 vppm) hydrogen (H2, 0.17 vol.%), water (H2O, 10 vol.%), carbon dioxide (CO2, 10 vol.%), oxygen (O2, 0.5 vol.%). Carbon monoxide is a noted poison that has an affinity for hemoglobin in the blood 210 times greater than the oxygen affinity prolonged exposure to levels above 9 ppm can lead to reduce mental acuity for some individuals. HC and NOx lead to photochemical smog in presences of sunlight give secondary pollutant ozone, nitro dioxide & peroxyacyl nitrate which cause also global environmental problems.
A catalytic converter is placed inside the tailpipe through which deadly exhaust gases containing HC, CO, NOx are emitted. The function of the catalytic convertor is to convert these gases into CO2, H2O, N2 and O2 and currently, it is necessary for all automobiles pursuing on roads. As primary measures many different possibilities and technical methods of reducing exhaust gas emission are used e.g. combustion of lean air fuel mixture, multistage injection fuel, exhaust gas recirculation, fuel gas after burning, loading of additional water into cylinder volume.