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In each of the following examples

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In each of the following examples, discuss which market model appears to best explain the;behaviour described;a. Dry weather unexpectedly cut the 2003 soybean harvest by 15 percent, making it the;smallest harvest in seven years. China increased its demand for soybeans, acquiring a;record 300 million U.S. bushels between September 2003 and April 2004. The Bush;administration expected that U.S farmers would respond to the high prices by planting;more soybeans in the next cycle.;b. In spring 2004, General Motors launched another round of discounts, offering zero;percent financing for five-year loans and $ 1,000 additional givebacks to customers.;Following GMs move, Ford increased rebates on certain pickup models from $ 1,000 to;$ 1,500, while DaimlerChrysler announced that 2005 minivans would come with a $;1,000 rebate.;c. In spring 2004, the U.S wireless telecommunications industry hoped that mergers;among firms would decrease the number of rivals and eliminate cutthroat competition.;However, the wireless carriers faced challenges from new technologies and a rush of;new entrants into the market. Unlike their counterparts in the traditional phone industry;wireless companies never enjoyed a period of monopoly status.;d. Chinese cooking is the most popular food in America that isnt dominated by big national;chains. Chinese food is typically cooked in a wok that requires high heat and a special;stove. Specialized chefs are also required. Small mom-and-pop restaurants comprise;nearly all of the nations 36,000 Chinese restaurants, which have more locations than;McDonalds, Burger King, and Wendys combined.

 

Paper#28746 | Written in 18-Jul-2015

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