This economics assignment provides a detailed analysis of Australia's energy market, focusing on its market structure, the behavior of large energy firms, and the concept of market failure. It investigates the characteristics of the Australian Energy Market, operated by the Australian Energy Market Operator (AEMO), and evaluates the price and output behavior of energy firms. The assignment also explores the meaning of 'market failure' and selects Australia's Environmental Policy as a case study, describing its instruments and evaluating its success or failure. Furthermore, it examines the impact of rising coffee bean costs on coffee prices and analyzes the pricing strategies of companies like J.M. Smucker Co. The assignment concludes by discussing the optimality of price slashing for retaining market share, suggesting alternative strategies like advertising and value enhancement. Desklib offers a wealth of similar assignments and resources for students.