Explain the factors that will affect demand and supply

Assignment Help Microeconomics
Reference no: EM131673228

Assignment -

Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization's total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served.

Assignment Steps

Scenario: You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products.

Research an organization and a product produced by that organization in which an analysis can be conducted.

Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics:

Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.

Analyze any comparative advantages and international trade opportunities.

Explain the factors that will affect demand, supply, and prices of that product.

Examine factors that will affect Total Revenue, including but not limited to:

  • Price elasticity of demand
  • Factors that influence productivity
  • Various measures of costs, including opportunity costs
  • Externalities and government public policy and their effect on marginal revenue and marginal cost

Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.

Cite a minimum of three peer-reviewed sources.

Reference no: EM131673228

Questions Cloud

Describe characteristics of the organizations culture : Supervising personnel is a major responsibility for human services administrators. Effective supervision can have a direct impact on the success.
Explain what sort of business you would open : Explain what sort of business you would open, then go through each of the types of retail sites explain why this is or is not a good choice for your business.
Compare selected countries global business competitiveness : Select one Asian and one African country. Compare and contrast their global business competitiveness. Write a three-to-four-page paper in Word format.
Identifies a documentary focused on a major health issue : Identifies a documentary focused on a major health issue. Summarizes the agenda of the documentary, providing sociological relevance.
Explain the factors that will affect demand and supply : Explain the factors that will affect demand, supply, and prices of that product. Analyze any comparative advantages and international trade opportunities
What are the five principal types of residential development : What are the five principal types of residential developments? Write a short description of each.
How consumers make economic decisions : You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions
Post a brief description of the diverse family system : Post a brief description of the diverse family system you selected. Then explain a potential barrier they might encounter in society.
Calculate the net present value for each type of stand : Calculate the net present value for each type of stand under each of the three scenarios. Calculate the range of possible NPV values for each type of stand.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd