· Set up hypothetical Firm (Name, type of business etc. with business Logo on front page)
· Identify main goal/goals of your firm/business (4 dependent variable)
· Identify key variables influencing your business' objective (5 independent variables)
· Outline projected correlations between your dependent and independent variables
· Identify potential extraneous variables if any that might impact your business
· Use deductive or induction reasoning to outline 5 advertising statements for your business
· Identify conditions that should prevail for your firm to at equilibrium in the market place; under what condition will your firm incur losses?
· What is the price elasticity of demand facing the services or products of your business? Using this information, explain the pricing strategy for your business.
· Explain why it is important to understand consumer behavior when establishing a business.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.