[SOLVED] Respond to classmate’s answers
Im studying for my Economics class and dont understand how to answer this. Can you help me study?
Make sure to respond to each of them. Try to include any relevant microeconomic concepts or thinking as derived from your readings. Thank you!!
#13: Agri-Business Seek Ways to Raise Efficiency.
“I dont believe the benefits of this production is worth the risk. Although, poultry companies may make more revenue by raising the productions they are also raising the risk of having a consumer becoming ill from the product. Its imperative that we continue to remain to to keep the health codes strict with trained inspectors rather than company personnel that will approve whatever in order to continue the production. 20,000 pigs per day seems like a concerning pace to produce this and should be kept at 8,000 to keep workers safe and consumers safe.”
#14: Societal impacts from Amazon’s Dominance.
“One concern that I have would be that Amazon being the Big One means they have a monopoly on many aspects and will reduce competition in our economy. Amazon looks to be virtually unstoppable so any other company trying to compete against them would be more so a nonexistent threat. I like how the article said many firms would be much more innovative if they were given a license to operate without the nuisance of profitability. In this day and age, innovation needs to be present in the every changing economy and it seems like only Amazon has the ability to do so to their heart’s content and not worry about immediate profits like when investing in delivery networks. Their break-even strategy is genius for avoiding the enormous amount they would have to pay in income tax, however the minuscule amount they pay in taxes is quite ridiculous compared to their enormous wealth.”
#15: Intense Competition for the Chicken Sandwich.
“Aside from the taste and quality being an important factor, I would say social media is a huge factor in competition. Around the time the Popeyes sandwich came out, social media was buzzing left and right about its arrival. I would see ads/general posts about it on Twitter, Instagram, Snapchat, Youtube, and various news outlets. The constant comparison to Chick-Fil-A most certainly added to its hype as well. I personally have never been to a Popeyes before, and as a Chick-Fil-A lover I wanted to go see for myself if the sandwich lived up to my expectations. Sadly, I missed my chance as they ran out. Those edgy social-media posts are really beneficial in sparking interest in consumers to try new products. Another good idea might be to make a vegan imitation of the original product, but that may/may not be reciprocated as well.”
