Regression analysis was done in the previous assignments and the results were able to show that the product has an inelastic type of demand. The market has a total of twenty six companies where each of the companies tries to operate as monopolists in the markets. It means that each Company tries to control a small portion of the market through which it can determine the prices of the goods. The monopolists do not wait for the forces of demand and supply to determine the price levels of the products. Instead it is the monopolists’ that makes the final decisions regarding the price settings. The market of the calorie food company is designed in such a way that the products produced are similar in nature. However, the products have very minor differentiations that distinguish from one another.
Leading competitors in the Microwavable food Industry
The market of low-calorie microwavable foods is currently crowded and that leaves the consumers with quite a good number of options from which to choose from. Furthermore, the industry has had a change due to the fact that the current crops of employees have a high level of disposable income. Therefore, the high income gives them the opportunity to enjoy good lifestyles at affordable prices. The change in lifestyles has seen a majority of people change from the traditional methods of cooking to the modern methods of using microwaves. As a result of the introduction of microwaves, people also became innovative enough to the extent of innovating new products that can be prepared using the microwaves. Most of the new products are in the category of junk foods that are normally easy to prepare and warm. Besides, people have reverted to the consumption of foods that have low levels of calories because health experts have proved that it is good for human health. A good option of low calorie food is expected to contain fiber of not less than three grams. Additionally, the food should contain sodium not exceeding 600 milligrams (Zelman, (n.d).
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