Please prepare a 6-page report concerning microeconomics issues faced by a firm of your choice.
1) Introduction of the Firm – Who are they and what do they do? It would be nice if you could add some key statistics on the firm such as their annual sales, market share and some product information. In general, do you believe they are a successful firm overall. Please don’t make the introduction any longer than two pages.
2) Please Identify Their Market Structure – Is the firm operating in a competitive, oligopoly, cartel, monopolistic competition or a monopoly market structure. Why?
Please comment on who their largest competitors are. What is the current situation in the industry? Is it a growing and profitable industry or are they facing special problems such as the hardship created by the COVID-19 virus, stiff and costly government regulations, international competition, etc.…?
3) Please Comment on the Firm’s Demand Curve – Do your best to draw the demand curve and try to calculate the price elasticity for their main product or service. Determine if they have an elastic or inelastic demand curve. You will probably need to guess on the quantity that they sell because many firms do not reveal this information, but use your best judgment. I will trust your best estimate, there is no need to panic if you can’t find the actual quantity sold. If you are using an estimate, then state that in your paper.
Please refer back to Weeks 3 & 4 on CANVAS and look again at the document entitled, “How To Use Excel 2016 To Solve Economic Problems.” Go to page 2 to see the instructions on how to create a demand curve using Excel. If you do not have access to Excel, then you can also use the slightly inferior Google Sheets, or I’ll accept a hand-drawn demand curve. Let me state again you’ll need to try to calculate a price elasticity number for the product or service. Please show the calculation of your paper.
4) Please give general comments on the firm’s actual history and potential for growth in sales, market share,and profits.Are they on an upward trend or are they on a declining trend in these areas?
5) Please comment about their stock if they are a public company – Basically do you think the firm’s stock is a good investment? Why or why not? If they are a private firm and do not have a publicly traded stock, then do you feel the firm is a good investment for private investors? Why or why not?
6) In your opinion has the senior management team of the firm practiced excellent, good, average, or very poor microeconomic policies? Why or why not?
7) Other: You are free to add anything else.
This paper doesn’t need to become a complex endeavor. Keep it simple and stick to the questions listed above. You are free to include graphs, charts and other information you think is vital. This paper represents 40 percent of your grade. For some of you, this paper might help you get a higher grade.
If you stick to a firm that you know something about and if you choose a firm that publishes information about itself on the Internet, then you’ll have a much easier time. You’ll probably need to invest 8 hours of time into doing this paper. I don’t think that is asking a lot. Please remember that I do expect to see some citation on the last page. I don’t care if it is in MLA or APA format. Good luck!
n short, everyone will still need to choose a public or private firm, say something about their history, review the industry they are in, make comments about their main product or service, try to calculate the price elasticity of the main product or service, create a graph of the product or service demand curve, review the firm’s potential for growth, review their stock (if they have a public stock) and ascertain if it is a good or poor investment, and ultimately conclude whether or not the firm is practicing excellent, good, average, or very poor microeconomic policies. You won’t need to address cost factors at all.
I know this looks like a lot of work but what makes this easier is that I’m willing to accept your opinions. In my standard term paper, I would insist on hard facts for every question and that made the standard term paper project much more challenging.
The purpose of this project is to verify that you do understand the basic microeconomic concepts that we reviewed and your ability to apply those concepts to a real-world firm
even if the majority of the paper contains unsubstantiated opinions. I would still like to
see citation sources on the last page of your paper.
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