What kind of changes do you predict will impact the oil industry based on the following trends in new energy sources: fracking, hydrogen fuel cells, biomass or bio fuel, solar, or a break-through in car batteries for electric cars? What are these market types and how does that matter to the pricing and production of oil.

PART 1– Analytical Report

Write a short analytical report (4 pages) on how organizations with market power set the price of their product in a mass market in accordance with the prompt below. In this topic, you have to introduce different price strategies that involve price discrimination.

Go to the library and find and read the following articles.

Vara, V. (2017). How frackers beat OPEC: the surprising ingenuity of the American shale-oil industry–and its huge global consequences. The Atlantic, (1). 20.

Oil & gas firms call for extension of pricing freedom to existing fields. (2016). FRPT- Chemical Snapshot, 14-16.

Ford, N. (2016). Winners and losers in an era of cheap oil: the impact of low oil and gas prices varies from country to country but the effects are not as straightforward as might be expected. African Business, (431). 51.

You may also find helpful information at:http://www.economist.com/topics/oil-prices

The Organization of Petroleum Exporting Countries (OPEC) is a cartel that attempts to keep oil prices high by restricting output. As part of that process, each member nation is assigned a production quota; most members have nationalized their oil industry so that the government controls overall production. However, member nations routinely exceed their production targets. Explain why OPEC often has difficulty keeping output low and prices high.

Public utility companies (you may stay with the topic of oil/gas) customarily charge more to business customers than to residential customers. Discuss this price discrimination as it relates to gas and oil.

What kind of changes do you predict will impact the oil industry based on the following trends in new energy sources: fracking, hydrogen fuel cells, biomass or bio fuel, solar, or a break-through in car batteries for electric cars? What are these market types and how does that matter to the pricing and production of oil.

For all of the industries that you discuss in this paper, state which of the four market types that it is (Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly).

Ensure that you include Porter’s Five Forces Model in describing the pricing effects or strategies from these newer industries (or you may select one and discuss it in depth).

Part 2 – Quantitative Analysis Case

Write a Quantitative Analysis report on the following problems:

The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for product are assumed to be as follows:
TC = 500,000 + 0.85Q + 0.015 Q2
Q = 14,166 – 16.6P
Determine the short-run profit-maximizing price.
Plot this information on a graph showing AC, AVC, MC, P, and MR.
An amusement park, whose customer set is made up of two markets, adults, and children, has developed demand schedules as follows:
Price($)QuantityAdultsChildren51520614187131681214911121010101198128613741462

The marginal operating cost of each unit of quantity is $5. (Hint: Because marginal cost is a constant, so is average variable cost, Ignore fixed cost.). The owners of the amusement park want to maximize profits.

Calculate the price, quantity, and profit if
The amusement park charges a different price in each market
The amusement park charges the same price in the two markets combined.
Explain the difference in the profit realized under the two situations.
(Mathematical solution) The demand schedules presented in Problem 2 can be expressed in equation form as follows (where subscript A refers to the adult market, subscript C to the market for children, and subscript T to the markets combined)
QA = 20 – PA
QC = 30 – 2PC
QT = 50 – 3PT
Solve these equations for the maximum profit that the amusement park will attain when it charges different prices in the two markets and when it charges a single price for the combined market.

Part3

This Has To Be 150 Words

In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. Cite as many examples as you can of these types of businesses. Explain why the profits of such firms tend to increase when there is an excess supply of the inputs they use in their production process.

One way bones are classified is by their shape. How would you classify the bones fractured by Mrs. Morgan?

Look Out Below: A Case Study on Bone Tissue Structure and Repair

Mrs. Debbie Morgan is a 45-year-old female who works as a stocking clerk for a local home improvement store. While she was at work today a large box of metal rivets fell from a 20-ft.-high overhead shelf, striking her outstretched arm and knocking her to the ground. The ambulance personnel reported that she had lost quite a bit of blood at the accident scene and was “knocked out” when they arrived. To minimize further hemorrhage, the paramedics applied a pressure bandage to her arm.

You meet the paramedics as they bring Mrs. Morgan into the emergency room and begin to assess her for injuries. She is awake and alert, but complaining of severe left arm and back pain, plus she has a “killer headache.” To fully examine her injuries you remove four blood-soaked bandages from her arm. You notice a large open wound on her arm with what appears to be bone tissue sticking out of the skin. She also has bruises covering her left shoulder, left wrist, and lower back. To determine the extent of her injuries Mrs. Morgan undergoes several x-rays, which reveal the following:

1) fracture of the left humerus at the proximal diaphysis,

2) depressed fracture of the occipital bone,

3) fracture of the 3rd lumbarvertebral body.

Short Answer Questions

2. One way bones are classified is by their shape. How would you classify the bones fractured by Mrs. Morgan?

3. The body of Mrs. Morgan’s vertebra is fractured. What type of bone tissue makes up the majority of the vertebral body? Describe the structure and function of this type of bone.

4. The diaphysis of Mrs. Morgan’s humerus is fractured. What type of bone makes up the majority of the diaphysis of long bones like the humerus? Describe the layers of bone tissue found here.

5. Most connective tissue, including bone, is highly vascular. Which anatomical structures in Mrs. Morgan’s compact bone house blood vessels? What sign or symptom in Mrs. Morgan’s case is directly related to disruption of these structures by her bone fractures? How is the sign or symptom related to these anatomical structures?

6. Within days after a fracture, a “soft callus” of fibrocartilage forms. What fibers are found in this type of cartilage? Identify the cells required for fibrocartilaginous callus formation and list their functions.

7. As a fracture is repaired, new bone is added to the injury site. What term is used to describe the addition of new bone tissue? Identify which bone cell is responsible for this process and explain how it occurs.

8. In the final stage of bone repair, some of the osseous tissue must be broken down and removed. What term is used to define the breaking down of osseous tissue? Which bone cell would be best suited for this task?

9. The extracellular matrix (ECM) of bone is considered to be a composite material made up of organic and inorganic matter. What makes up the organic and inorganic portions of the matrix? Describe the cellular mechanism involved in breaking down this matrix; include the bone cell required for the process.

At 1.00am, someone breaks a window in the back of a store and robs the safe. On the way out, the thief cuts himself (or herself) on a piece of broken glass. You are a forensic detective called to the scene. You test a sample of blood left behind by the thief. It is O-. While you are there, police bring in a suspect with a cut forearm who was arrested just three blocks from the store. You take a sample of the suspect’s blood and mix it with anti-A. You immediately know that the suspect is not the person who cut himself on broken glass in the store. How do you know this

Blood group questions:

1. For each of the given blood types, give the expected agglutination (clumping) results when the blood is mixed with Anti-A, Anti-B and Anti-Rh antibodies. Enter ‘Yes’ for presence of agglutination, ‘No’ for absence of agglutination

2. At 1.00am, someone breaks a window in the back of a store and robs the safe. On the way out, the thief cuts himself (or herself) on a piece of broken glass. You are a forensic detective called to the scene. You test a sample of blood left behind by the thief. It is O-. While you are there, police bring in a suspect with a cut forearm who was arrested just three blocks from the store. You take a sample of the suspect’s blood and mix it with anti-A. You immediately know that the suspect is not the person who cut himself on broken glass in the store. How do you know this?

3. (Continued from question 2) Suppose the suspect’s blood does not agglutinate when tested with anti-A or anti-B, but does agglutinate when tested with anti-Rh. Would this connect the suspect with the crime scene? Explain your answers