1. Price skimming strategy is a new product strategy that results in a high initial product price being reduced over time as demand at the higher price is satisfied. Research a product or service that may have entered the market with a high initial price and now the demand at the higher price is satisfied. Discuss why you believe consumer demand has changed for this product or service which resulted in satisfaction of the market.
2. Antitrust regulation is designed to increase competition by eliminating attempts to monopolize an industry (other than through better products or better management) as well as by attacking certain patterns of illegal conduct (i.e. price fixing and exclusionary contracts that foreclose competitor business). For this forum, discuss your belief on “tech giants” violating antitrust laws. Do you feel Facebook, Google, Amazon, Apple, Microsoft etc. are in violation of such antitrust regulation?
Initial post for each question must be between 250-300 words in length.
Note: Please complete both the question in two different word documents with references.
3. Discuss the difference between real GDP and nominal GDP, which is used by economists to measure economic well-being and why. Why is a large GDP a good thing? Give an example of something that would raise GDP but would be considered undesirable and explain.