Assignemnt: Principles of Microeconomics
Has to be completed by Monday June 19th by 2pm Texas time.
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:
o Price elasticity of demand
o Factors that influence productivity
o Various measures of costs, including opportunity costs
o 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 from the University Library.
Format your paper consistent with APA guidelines.