Microeconomic Analysis:

DWQA QuestionsMicroeconomic Analysis:
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Task description:
The Supermarket and Grocery Store retail industry is highly concentrated in Australia. The
four largest operators account for over 80% of industry revenue in 2017-18, with the
two (2) largest operators together holding over 65% of the industry revenue (Cloutman
2018, p. 19).
The remaining 20% of the market is shared between a range of specialist food retailers,
convenience stores, cafes and food warehouses.
You are required to:
a. Apply your understanding of the microeconomic concepts to investigate and summarise
the major features which characterise the economics of firms in this industry (approximately
500 words).
b. Discuss which of the four (4) market structures best describes the Australian
Supermarket and Grocery Store industry. Explain the reasons for selecting on of these four
structures (approximately 500 words).
c. Describe and analyse the economics and pricing policies that you would to expect to find
in the Australian Supermarket and Grocery Store industry (approximately 500 words).
d. Choose one of the companies in the Australian Supermarket and Grocery Store industry
and discuss the key factors which determine product pricing, and the relative importance of
price as a competitive factor (approximately 700 words).
e. Write a conclusion, which summarises the insights which you have gained from this
assessment task (approximately 300 words)…….To get full solution, please send email to charteredtutorials@gmail.com