Question: 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.
Purpose of Assignment: Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization's total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served
Research an organization and a product produced by that organization in which an analysis can be conducted.
Write a 500-word analysis of the current market conditions facing your product, include graphs and charts showing knowledge of Cost Curves and make sure the following topics are addressed with specifc referencing to the product chosen:
1. Explain the factors that will affect demand, supply, and prices of that product.
2. 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
Cite a minimum of peer-reviewed sources from the University Library.
Format your paper consistent with APA guidelines.