Economics class video: Music: the hot new asset class
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Demand and Supply, price mechanism, elasticity and market structures
Click to watch the short video below and then answer the questions:
Using demand and supply analysis, explain what should happen to the price of CDs after 2000. Use the functions of the price mechanism to explain your answer
Discuss the cross elasticity of demand for physical music and digital music
Evaluate the impact on KKR’s profitability of buying music catalogues from the likes of One Republic and The Weeknd. Use a diagram in your answer
Given the information provided in the video, is the music industry a contestable market?
Gavin Simpson and Pete Clift, Economics In Ten podcast