Essay Will Bury Scenario - 1481 Words

Abstract This paper will explore several economic concepts, and its benefits within the capitalistic market system. The main objectives are: how to increase revenue, how to achieve ideal production levels, how to determine fixed variable costs to maximize profits, and how to identify methods to reduce costs. The sole proprietor will operate in a pure monopoly market structure, which is characterized by his unique patented technology. Therefore, as a price-maker controlling the market, with apparent economies of scale, he must quickly identify the production level that gives the greatest vertical distance between the total revenue and total cost curves. More to the point, the company’s quantity of output that equates marginal revenue and†¦show more content†¦His new technology will transform the audio by creating a digital book file, thus enhancing the quality of sound, and rivaling the competitions inhuman sound. Furthermore, Will has worked on this invention for several years in his garage while maintaining a lucrative, technical career at High Tech Digital. The invention process has allowed him to develop and patent the product, thereby hoping to transform consumer access to a quality digital reader. In addition, Will realizes that the intellectual property rights guarantees him a return on his investment, and his dollars spent now, will pay off later. However, operating in a pure monopoly market structure as the price maker, poses critical pros and cons that must be addressed. A pure monopoly, by definition is â€Å"one firm or sole seller of a product or service with a unique product, where product differentiation is not an issue, according to McConnell, Brue, Flynn, 2009, Ch. 9, p. 177.† Thus, the barrier to entry due to Will’s proprietary technology is a positive attribute. However, in a pure monopoly setting, Will must ensure his customer’s that his pricing is fair, due to having the price maker status. The demand curve, whic h is the determining factor of his long term profitability, is also a key factor for Will to consider. Finally worth mentioning, Will’s technical abilities are an asset, but he must improve his business acumen if he is to avoid the common pitfalls, and challenges of bringing aShow MoreRelatedPrice Elasticity993 Words   |  4 Pagesfor Will Bury’s Price elasticity Scenario The purpose of this proposal is to provide recommendations to Will for increasing revenue, maximizing profits, determining the company’s profit-maximization quantity, increase product differentiation, and minimizing product costs. The proposal will also include the correlated processes for determining the appropriate recommendations and their correlation to pertinent economic principals. Company Overview Will Bury is an architect of innovation whoRead MoreWill Bury Business Proposal1026 Words   |  5 PagesWill Bury Business Proposal Will Bury Business Proposal To maintain its health with the current economic conditions a business must remain competitive and increase profits. Will Bury developed technology that will allow him to convert printed text to into a digital format for reading or an audio format for listening. Will Bury holds the patent to his technology that makes his business a monopoly. This gives him an advantage by creating a barrier to entry for competitorsRead MoreBusiness Proposal1436 Words   |  6 PagesBusiness Proposal Bradley Jameson ECO/561 July - 21 2014 Professor Seyed Baladi Business Proposal The technology market is a lucrative, ever-changing, and consistently growing business market. Will Bury (University of Phoenix, 2014) has developed a digital reading application that is simple to use, and necessary in today’s world of academics, business, and pleasure use. It is the intention of this business proposal to acquire the financing needed to begin launch of this new applicationRead MoreWill Burys Price Elasticity1688 Words   |  7 PagesWill Bury Price Elasticity Introduction Will Burys e-publishing invention that can produce both digital text and understandable digitally-read text quickly from published books has the potential to completely disrupt digital publishing, digital recording and a wide spectrum of other training-related industries. His early efforts at selling the recordings and downloadable book files online have been disappointing, showing an apparent lack of price elasticity in the market. One of the fundamentalRead MoreThe Emotions Of Creon In Antigone By Sophocles852 Words   |  4 Pagesin them. As the play begins, Antigone’s rage, directed toward her entire life, becomes apparent, understandably so. Sophocles has Antigone open the play by saying, â€Å"Our lives are pain† (6). The fact that her first reaction to Creon’s decision not to bury Polynices, isn’t regarding its level of immortality, or that it goes against the gods’ will, is a clue into her state of mind. Even though it does seem like she ca res for her brother, and that she does disagree with her uncle, her initial thought isRead MoreAncient Greek Tragedies: Passion vs. Prudence 959 Words   |  4 Pagesconversation with Ismene, Antigone says: â€Å"Ismene, I am going to bury him† (Sophocles, 3). To this Ismene replies with: â€Å"Bury him! You have just said the new law forbids it† (Sophocles, 3). This is the first time we experience the difference in the sisters’ behavior. Antigone has decided to bury Polyneices, although Creon’s new law forbids it. She believed that the God’s proclamation means more than Creon’s, and tells Ismene: â€Å"I will bury the brother I love† (Sophocles, 4). Ismene, on the other handRead MoreBasic Concepts for Economic Reasoning1782 Words   |  8 PagesReasoning International Economics Will Bury`s Gose Global Part I Will Bury has invented a technology that gives the option of reading text materials digitally or listening to it with synthetic voice which sound realistic (Will burry`s goes global, UOP). In this paper I will explain economic concepts founded in Will Bur’s scenario, which will Bury`s have to take some important business decisions. The economic concepts in Bury’s Price Elasticity Scenario are: A. Supply and demand Read MoreHow Morals Are Thrown Around Through The Actions And Speeches Of The Characters Creon And Antigone1213 Words   |  5 Pageslife when it is taken to the extreme. This close mindedness ultimately leads to these character’s downfalls with Creon revealing that his moral extreme is the â€Å"political sphere† of life and Antigone, the â€Å"private sphere† holds the truth. She wants to bury her brother, Polynices (Galens). A proper burial for those killed in battle was essential for the Ancient Greeks (Fletcher). To give Polynices his proper burial, she infringes upon her Uncle Creon s laws that specifically forbid her from burying PolynicesRead MoreRealism In Edgar Allen PoesThe Fall Of The House Of Usher?1080 Words   |  5 Pagesfigure on the brick wall outside the window of her kitchen. Monet initially thought it was her dad because they were the only ones home, but suddenly she heard him start his car. She turned back around expecting to see the fi gure but it was gone. This scenario is related to magical realism because the object that Monet saw was a figment of her imagination. Also the location, this event took place was in a normal setting, which relates to magical realism because the genre includes an ordinary setting. AdditionallyRead MoreWilliam Shakespeare s Macbeth And Antigone1540 Words   |  7 Pagesshould have died hereafter† (V.v.20, Shakespeare). Shakespeare and Sophocles both demonstrated that although a woman could step up for power in doing what they think is best, it would soon lead them to their downfall. Just as Antigone was stubborn to bury her dead brother, Lady Macbeth saw the same power of choice, but in a more impacting way. Both, unfortunately, lead to their deaths. Feminism was implicated in both writer’s plays through the success and failure of the women’s actions to achieve some