analyze the market

Summary: For Research Report #2 you will analyze the market for coffee beverages in Newberg. Your essay should be 500-650 words in length (approximately 2 pages with standard font, double-spaced) and answer the questions below. Remember, this is a report so it should read as an academic essay. Also, you must turn in a physical copy and upload your paper to BEFORE class begins on Friday 4/6/18. Questions to answer: 1) Search for “coffee shop near Newberg, OR” with Google. How many coffee shops are in the city? What are their names? Where are they located? A general description of locations is fine; no need to provide specific addresses. Are there particular neighborhoods/city blocks where they are concentrated? If concentrated, why do you think this occurs? If dispersed, why? Note: Google is an imperfect tool; some of the businesses listed are not coffee shops (e.g. Chehalem Cultural Center) while some have been excluded. Use your intuition when you create your list. 2) Create a table that lists the prices of coffee drinks at Chapters, Starbucks, Human Bean, and Bridge Cafe. Provide the price of a small (12oz) cup of coffee (i.e. drip), small cappuccino, and small latte. What is the average price of each drink? Which shop has the highest price in each category? Lowest? Is there much variation in price? 3) What type of market (perfectly competitive, monopoly, oligopoly, monopolistic competition) best characterizes the market for coffee in Newberg? Why? In your answer make sure you reference the defining characteristics (i.e. number of buyers and sellers, entry and exit, etc.) of the market structure you have chosen. 4) What does your answer to #3 suggest about the market power of an individual shop? Do individual shops have price setting power? If yes, why? If no, how do they compete with one another? Bonus: Which shop should Jonathan take his wife to on their next date? Why?