Price elasticity of demand


Assignment:

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.

Select your organization and a product produced by that organization from IndustryWeek.

Write a 2,100-word analysis of the current market conditions facing your product, making sure that 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.

Use a minimum of 3 peer-reviewed sources from the University Library.

Format your paper consistent with APA guidelines.

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Macroeconomics: Price elasticity of demand
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