The current inflation rate (annual increase in price level) for goods sold in supermarkets (“dailies” or “everyday goods” like food etc.) is 7.9 per cent, i.e. the supermarkets have to pay 7.9 per cent higher prices upstream to the producers of the goods. On average, the price increase consists of:
The market for supermarkets has the following market structure:
The supermarket companies perform the following reaction to the upstream price increase:
Assignment 1 (20 points)
Discuss the pricing strategies of NOKEG, UltraBuy, Westland, and AKEDE. Are they pro- or anticompetitive?
Assignment 2 (5 points)
Westland advertises its price increase by telling the consumers that they raise prices to improve the protection of the environment and to promote regional producers. Thus, Westland consumers can shop with a clear conscience. Is this advertising strategy pro- or anticompetitive?
Assignment 3 (5 points)
NOKEG successfully lobbies the government to grant their consumers a 5 per cent-discount for their shopping with NOKEG, called “energy payback money” (EPM). This discount is financed by the government. The official reason is to compensate for the energy price-related increase. Is this measure pro- or anticompetitive?
Assignment 4 (20 points)
Discuss the following statement: If a company acquires a monopoly position because of a breakthrough innovation, then the monopoly rents are the deserved reward for its effort.
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