New tariffs on steel are increasing costs for companies like Pacific Coast Producers, which uses steel to package canned fruits and tomatoes for major U.S. grocers, hospitals, and schools. The company is now considering passing these additional costs on to buyers.—reuters.com
Category: MIT7
Prices, Profits, and Industry Performance
Keywords: Perfect competition, Monopoly, Monopolistic competition, Oligopoly, Games, Strategies, Economic profit
Parkin 14e Chapters 12, 13, 14, 15
Bade-Parkin 9e Chapters 15, 16, 17, 18
Parkin-Bade Canada 11e Chapters 12, 13, 14, 15
Parkin-Bade Australia 2e Chapters 15, 16, 17, 18
Parkin-Powell-Matthews 11e Chapters 11, 12, 13, 14
Who Is Making Money on Your Concert Ticket?
The Justice Department alleges that Live Nation suffocates competition in ticket promotion and venues, which drives up Ticketmaster prices.—ft.com, May 23, 2024 A $100 ticket is split between the artist $90 and the promotor $10. The $25 ticket is split between Ticketmaster $5 and the Venue $20
Pure Price-Gouging
Danaher Corp. holds a virtual monopoly on single-use test cartridges for TB infection. An independent analysis says the cost of a cartridge ranges from $3 to $4.50, but Danaher charges a price between $10 and $15, a markup of up to 400 percent. It's pure price gouging.—cbc.ca
Chocolate Makers’ Prospects Sour as Cocoa Prices Spike
The chocolate industry has enjoyed bumper profits and higher prices recently, but retailers are starting to push back on high-quality chocolate producers. Consumers are looking for deals, and lower priced 'private label' chocolate is picking up market share. Now cocoa prices are rising as cocoa producers face ongoing drought and disease.—reuters.com
99-Year-Old Trucking Company Yellow Shuts Down
Yellow Corp., a 99-year-old trucking company that was once a dominant player in its field, halted operations Sunday, will lay off all 30,000 of its workers, and will file for bankruptcy. Yellow posted small profits in 2021 and 2022 and a $9.3 million loss in the first quarter of 2023.—cnn.com
Consumer Advocates Want the DOJ To Move Against JetBlue-Spirit Merger
The Justice Department will decide soon whether to block the JetBlue-Spirit Airlines merger. Consumer advocates say it would reduce competition in the air travel market, leading to fewer choices for travelers and higher fares. The airlines argue the merger will be good for competition, and bring lower fares.—npr.org
The Biggest Star of Super Bowl LVII Commercials? Nostalgia
Although a range of companies are advertising during Super Bowl LVII, a common theme runs through many of the spots: nostalgia. The Super Bowl is advertising's biggest stage. Last year, more than 208 million people watched the big game. This year, a 30-second ad costs about $7 million.—cbsnews.com
AMC Theatres Will Soon Charge According to Where You Choose to Sit
AMC Theatres is setting ticket prices according to where patrons sit in the auditorium. Front row seats are Value Sightline seats and cost less, and seats in the middle are Preferred Sightline seats and cost more. The remaining Standard Sightline seats are available for a standard admission ticket.—npr.org
US Government Calls for Continued Tariffs on Solar Imports
The Solar Energy Industries Association (SEIA) estimates that tariffs on solar modules could decrease U.S. solar installations by half over last year. SEIA estimates that tariffs could put 70,000 US solar jobs at risk. A small U.S. solar module supplier supports the tariff.—pv-magazine.com
The U.S. Video Streaming Market
In the video streaming market, U.S. subscription revenue was $24 billion in 2020, and it is projected to grow to $42 billion by 2025. Netflix, Disney, and Amazon will focus on original content. Who are the biggest players in U.S. video streaming market? This pie chart shows the average market shares of the six biggest … Continue reading The U.S. Video Streaming Market