Term Assignment: Managerial Economics
You have recently been hired to act as an economic consultant for a company of your choice. Your brief is to prepare a demand analysis for the company's main product.
In your analysis you should provide a description of the company's product and discuss the factors which are impacting on corporate sales (demand) for this product.
You are encouraged to use regression analysis in order to determine the demand equation and to aid you with your analysis. As an economic consultant you understand how important knowledge of elasticities is to your analysis so you should also work out the following elasticities: Price elasticity of Demand, Cross Price elasticity of Demand and Income Elasticity of Demand and any other elasticities you deem to be important to the study.
You are required to address the area of forecasting and to give information and discuss the future direction of the product's sales. You are also required to discuss the pricing strategy that the company is using in relation to the sale of the product.
Throughout your analysis you are encouraged to use references from expert reliable sources/individuals so as to back up your analysis.