Your goal is to investigate a specific product or service and its market: Use the models from this course to explain that product (Netflix). The length of your written assignment depends a lot on how densely you write in terms of content. I am not going to give any credit for general descriptions of the company unless they are relevant to the economics explaining that product. you must use quote marks around any close or direct quote.Given the severity of plagiarism, it may result in consequences such as a zero grade for the project 1. Elastic or Inelastic? – elastic supply or demand? what makes it so? – long run vs short run differences and adjustments – surplus or shortages? How are they dealt with? 2.Externalities in the market? – any attempts to solve them? How – any Government solution, Government regulation 3.Market types for product – monopoly, oligopoly, monopolistic competition, perfect, monopsony – why? what keeps the market as it is – ways the firm is earning and maintaining abnormal profits – Collusion – Profit margin (economy/diseconomy of scale) NB: NOT history of the service or the company or anything else unrelated to economical aspect. Diagrams must be included.
