Create a media presentation that includes:
1)The cantaloupe grown in the Jensen Farm contained Listeria and the Listeria
caused people to become sick.
2) What are the key terminologies and concepts? (Define them.)
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Equilibrium price:
Equilibrium quantity:
Quantity demanded: one specific point of the graph that buyers are twilling to and able to
buy at, not the entire graph.
Quantity supplied: one specific point of the graph that sellers are willing to and able to sell
at, not the entire graph.
Supply: quantities of goods seller are willing to and able to sell at all price at a specific period
of time
Demand: quantities of goods buyers are willing to and able to buy at all price at a specific
period of time
Consumer expectation: what the consumers expect of what will happen
Government regulation: the government puts the legal restriction on a supplier or a company
for the benefits of the people.
3)
-Colorado states
-Kmart/shops
-Companies copperating
with Jensen Farms
-Jensen Farms
-People who died
-Family of the dead
-People who got sick
-Hospitals
-Lawyers
-People who got sick
4. Find a graph to explain your problem.
Shift in Demand and Supply for the Cantaloupe in Colorado
D1
D2
Price ($) of
cantaloupe
S2
E2
S1
E1
5. Analysis: What is the current situation and How should decisionmakers
proceed?
The government regulations are causing the supply of the cantaloupe drop,
and the consumers expect that they will get sick if they eat the cantaloupe, which
caused the demand to drop. Currently the Jensen Farm is in a deep trouble.
Jensen Farm lost income, profit, fame, and it’s consumers. To improve the
current situation Jensen Farm recalled the entire cantaloupe, and through this
method some reputation of Jensen Farms: the safety of its fruits, were recovered,
but not all reputations were recovered. Then also the Jensen Farm needs an
alternative to the cantaloupe.
There are few alternatives to the cantaloupe such as growing and selling
other fruits or creating a campaign where the Jensen Farms pay all the people
who got sick from eating the cantaloupe and expand the health investigation
team and open an event which ensures the safety of Jensen Farm’s cantaloupe.
First alternative is to grow and sell other fruits. This alternative would give
a quick recovery to the Jensen Farms and it would help the company escape
from the government regulation. However, this alternative would not recover the
reputation of the Jensen Farms, consumers won’t be willing to buy the fruits, and
it would cause a lot of money to convert from cantaloupe to other fruits.
Second alternative is to create a campaign that ensures the safety of
Jensen Farms’ fruits. This alternative would start by paying all the people who got
sick, and then expanding the health investigation team of Jensen Farms. Lastly,
the Jensen Farms’ would create an event where the Jensen Farms’ health
investigation team would present the data, which shows the safety of Jensen
Farms’ fruits, and give off free fruits. Through this alternative Jensen Farms
would recover its reputation, and consumers would expect that Jensen Farms’
fruits are safe which would increase the demand for the cantaloupe. However,
this alternative would cause large amount of money and time.
Between those two alternatives, the second alternative which is to start a
campaign which ensures the safety of the Jensen Farms’ fruit is the best. The
second alternative is the best because it would increase the demand and recover
the reputation of Jensen Farms, while the first alternative gives no recovery in
reputation and there is a large probability that consumers would expect that
Jensen Farms’ fruits are unsafe and the demand would decrease.