Illustrate using an appropriate diagram where amazon.com sets price to maximise profit (adapting Figure 7.9d from CORE ESPP) to explain in some detail how the outcomes to customers compare to a more competitive, price-taking firm.
Supply Demand | Price Elasticity Assessment Tasks Part 1 – 20 Marks Case Study on Amazon in the US Under capitalism, firms are always looking for economic rents made by degrees of monopoly power, through institutionalising innovation. Consider Amazon, which started out in the mid-1990s as a humble online book retailer and is now the […]