Icon

BB-101 Simple Monopoly v05

[Building Blocks] BB-101 Simple Monopoly Demand Curve
Building Blocks (BB-101) - Simple MonopolyThe Profit Engine is predicting the Revenue, Profit, and Quantity Sold for the'Sprockets' Market where the Willingness To Pay (WTP) of all Customers form aNormal Distribution of Mean = $100 / Standard Deviation (SD) = $50.The Normal Distribution is the most commonly used for Market Simulation. Building Blocks (BB-101) - Set Profit Maximizing PriceThe Profit Engine has the option to 'Output Profit Optimization Results'. If this optionis checked, then the node will automatically set the Price of the 'Demand Curve'Product to the Profit Optimizing Price and run the Market Simulation one more time.The Output Product Array will then reflect the results.Chart Customer WTPas a HistogramMarketSimulationProductArrayChart BuyerConsumer SurplusRemove 'No Sale"CustomersChart Price vs ProfitDemand CurveMarketShareWillingnessTo Pay (WTP)of CustomersProductArrayWillingnessTo Pay (WTP)of CustomersMarketSimulationProfit MaximizingPrice Histogram Chart(JFreeChart) Profit Engine Table Creator Histogram Chart(JFreeChart) Row Filter Scatter Plot(JFreeChart) GroupBy Bar Chart(JFreeChart) CustomerDistributions Table Creator CustomerDistributions Profit Engine Column Filter Building Blocks (BB-101) - Simple MonopolyThe Profit Engine is predicting the Revenue, Profit, and Quantity Sold for the'Sprockets' Market where the Willingness To Pay (WTP) of all Customers form aNormal Distribution of Mean = $100 / Standard Deviation (SD) = $50.The Normal Distribution is the most commonly used for Market Simulation. Building Blocks (BB-101) - Set Profit Maximizing PriceThe Profit Engine has the option to 'Output Profit Optimization Results'. If this optionis checked, then the node will automatically set the Price of the 'Demand Curve'Product to the Profit Optimizing Price and run the Market Simulation one more time.The Output Product Array will then reflect the results.Chart Customer WTPas a HistogramMarketSimulationProductArrayChart BuyerConsumer SurplusRemove 'No Sale"CustomersChart Price vs ProfitDemand CurveMarketShareWillingnessTo Pay (WTP)of CustomersProductArrayWillingnessTo Pay (WTP)of CustomersMarketSimulationProfit MaximizingPriceHistogram Chart(JFreeChart) Profit Engine Table Creator Histogram Chart(JFreeChart) Row Filter Scatter Plot(JFreeChart) GroupBy Bar Chart(JFreeChart) CustomerDistributions Table Creator CustomerDistributions Profit Engine Column Filter

Nodes

Extensions

Links

Download

To use this workflow in KNIME, download it from the below URL and open it in KNIME:

Download Workflow
Created by: Berlin
Created at: 2018-05-21
On NodePit since: 2021-02-05
Last update: 2024-04-18
Created with KNIME version: v4.3.0

Deploy, schedule, execute, and monitor your KNIME workflows locally, in the cloud or on-premises – with our brand new NodePit Runner.

Try NodePit Runner!