Please prepare a 6 to 10-page report concerning microeconomic issues faced by a firm of your choice.
1)Introduction of the Firm – Who are they and what do they do? It would be nice if you could add some key statistics on the firm such as their annual sales, market share and some product information. In general, do you believe they are a successful firm overall. Please don’t make the introduction any longer than two pages.
2)Please Identify Their Market Structure – Is the firm operating in a competitive, oligopoly, cartel, monopolistic competition or a Monopoly Market Structure
Why?
Please comment on who their largest competitors are. What is the current situation in the industry? Is it a growing and profitable industry or are they facing special problems such as the hardship created by the COVID-19 virus, stiff and costly government regulations, international competition, etc.…?
3)Please Comment on the Firm’s Demand Curve – Do your best to draw the demand curve and try to calculate the price elasticity for their main product or service. Determine if they have an elastic or inelastic demand curve. You will probably need to guess on the quantity that they sell because many firms do not reveal this information, but use your best judgment. I will trust your best estimate, there is no need to panic if you can’t find the actual quantity sold. If you are using an estimate, then state that in your paper.
Please refer back to Weeks 3 & 4 on CANVAS and look again at the document entitled, “How To Use Excel 2016 To Solve Economic Problems.” Go to page 2 to see the instructions on how to create a demand curve using Excel. If you do not have access to Excel, then you can also us the slightly inferior Google Sheets, or I’ll accept a hand drawn demand curve. Let me state again you’ll need to try to calculate a price elasticity number for the product or service. Please show the calculation on your paper.
4)Please give general comments on the firm’s actual history and potential for growth in sales, market share, and profits. Are they on an upward trend or are they on a declining trend in these areas?
5)Please comment about their stock if they are a public company – Basically do you think the firm’s stock is a good investment? Why or why not? If they are a private firm and do not have a publicly traded stock, then do you feel the firm is a good investment for private investors? Why or why not?
6)In your opinion has the senior management team of the firm practiced excellent, good, average, or very poor microeconomic policies? Why or why not?
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