Think Different Essay (Final) - The Perfect Product...

The perfect product believes in a personal history of change history. Muhammad Ali, the biggest heavyweight boxer ever, said, "People who do not have the courage to take risks will do nothing in their life." Muhammad Ali is 6 feet 3 inches tall and weighs more than 200 pounds. I am not afraid of anything. He sought risks and challenges in his life to reach his nickname "highest." Apple advertised with Muhammad Ali to prevent the company from going bankrupt. That event is called "a different way of thinking". It represents creativity and personality. Ant is one of the 17 letters used to prove the impact on history. The advertisement of Muhammad Ali is simple and sophisticated, it attracts audiences and stimulates dreams. With the color scheme used in advertisements, viewers can easily identify the content the advertisement is about to draw to consumers. The two main colors used for advertising are black and white, symbolizing complexity, rebellion, style, and wealth. Black and white are the same colors as Apple products; this will allow Apple consumers to easily identify their products. Technology products need to show signs of stylish, sophisticated, and wealth. Otherwise, consumers will not want to buy them. The only color of non-black and white advertisement is Rainbow Apple's logo in the upper right corner. The iridescent apple is easy to see with a black and white background. Most people can recognize what Apple means. White is used to highlight Apple's URL in the lower right corner of the ad. People see the URL and understand what the posters represent. Various shades

With perfect competition, similar products are sold by many companies. Therefore, these products are perfect substitutes. Consumers know the product differences (if any) and the prices of individual companies. Good examples are Coca Cola and Pepsi. But with monopoly, the product sold is not a complete replacement but is unique. With perfect competition, companies can not manage prices. The price depends on the market. When a company raises the price of a product, it loses to competitors that sell at a relatively low price. Therefore, a company with perfect competitiveness is called a price acceptor. On the other hand, monopoly is called a price determiner to decide to sell the price of the product. This is because they are the only sellers on the market (Mankiw, 2011).

Because they sell the same product, there is a market price company can not charge different prices in perfect competition. With perfect competition, both the company and the seller will pay the price. The price in perfect competition depends on the market power of supply and demand. This is shown in the figure below (p1). Figure P1.1 The demand curve for a single enterprise product is very flexible. Mc is the marginal cost of the company and ac is its average cost. Demand line equals marginal profit, mr equals price. In perfect competition, the company is not a price maker but a price receiver, so the demand line is simple and straightforward. In the figure, the output is mc with mc and mr equal to m.

In the supply and demand market, the only market including producers and consumers who fully understand the product and market is completely competitive. The limit of access to and from this market is so low that producers feel cheap and easy to get in and out of the market. This means that companies can access this information through the latest complete competition, the main example of the vegetable market. Everyone can sell or raise their own garden, each vegetable seller sells his item at the same price as others. With respect to entry barriers, monopolistic competition can be compared with perfect competition. In this market, the access barriers are relatively low. However, as incomplete information becomes available, knowledge of this market spreads widely among participants, so it is hard to believe it is perfect. This can be inferred from the restaurant industry. (Economics Online, 2013)