Select a new, realistic good or service for an existing industry.
Write the economic analysis section of a business proposal. This will
include statements about the market structure and the elasticity of
demand for the good or service, based on text book principles. You
need to create hypothetical data, based on similar real world products
to estimate fixed and variable costs.
•Identify market structure
•Identify elasticity of the product
•Include rationale for the following questions: ◦How will pricing
relate to elasticity of your product?
◦How will changes in the quantity supplied as a result of your pricing
decisions affect marginal cost and marginal revenue?
◦Besides your pricing decisions, what are your suggested nonpricing
strategies? What nonpricing strategies will you use to increase
barriers to entry?
◦How could changes in your business operations alter the mix of fixed
and variable costs in line with your strategy?
•Your proposal is consistent with APA guidelines
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