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Write clearly and concisely about managerial economics and globalization using proper writingmechanics.

Write clearly and concisely about managerial economics and globalization using proper writing mechanics.

assignment 1: Demand Estimation Due Week 3 and worth 200 pointsImagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food thatestimates the following demand equation for its product using data from 26 supermarkets around thecountry for the month of April. [http://www.bezern.com/]For a refresher on independent and dependent variables, please go to Sophia’s Website and review theIndependent and Dependent Variables tutorial, located at http://www. [http://www.bezern.com/]sophia. [http://www.bezern.com/]org/tutorials/independentand-dependent-variables–3. [http://www.bezern.com/]Note: Your professor will provide you with the equation and data necessary for you to complete thisassignment. [http://www.bezern.com/] You will find this information attached to Assignment 1 within the course shell. [http://www.bezern.com/]Write a four to six (4-6) page paper in which you:1. [http://www.bezern.com/] Compute the elasticities for each independent variable. [http://www.bezern.com/] Note: Write down all of your calculations. [http://www.bezern.com/]2. [http://www.bezern.com/] Determine the implications for each of the computed elasticities for the business in terms of shorttermand long-term pricing strategies. [http://www.bezern.com/] Provide a rationale in which you cite your results. [http://www.bezern.com/]3. [http://www.bezern.com/] Recommend whether you believe that this firm should or should not cut its price to increase itsmarket share. [http://www.bezern.com/] Provide support for your recommendation. [http://www.bezern.com/]4. [http://www.bezern.com/] Assume that all the factors affecting demand in this model remain the same, but that the pricehas changed. [http://www.bezern.com/] Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. [http://www.bezern.com/]a) Plot the demand curve for the firm. [http://www.bezern.com/]b) Plot the corresponding supply curve on the same graph using the following MC / supplyfunction Q = -7909. [http://www.bezern.com/]89 + 79. [http://www.bezern.com/]0989P with the same prices. [http://www.bezern.com/]c) Determine the equilibrium price and quantity. [http://www.bezern.com/]d) Outline the significant factors that could cause changes in supply and demand for theproduct. [http://www.bezern.com/] Determine the primary manner in which both the short-term and the long-termchanges in market conditions could impact the demand for, and the supply, of theproduct. [http://www.bezern.com/]5. [http://www.bezern.com/] Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand andsupply curves. [http://www.bezern.com/]6. [http://www.bezern.com/] Use at least three (3) quality academic resources in this assignment. [http://www.bezern.com/] Note: Wikipedia does notqualify as an academic resource. [http://www.bezern.com/]Your assignment must follow these formatting requirements:• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on allsides; citations and references must follow APA or school-specific format. [http://www.bezern.com/] Check with yourprofessor for any additional instructions. [http://www.bezern.com/]• Include a cover page containing the title of the assignment, the student’s name, the professor’sname, the course title, and the date. [http://www.bezern.com/] The cover page and the reference page are not included inthe required assignment page length. [http://www.bezern.com/]The specific course learning outcomes associated with this assignment are:• Analyze how production and cost functions in the short run and long run affect the strategy ofindividual firms. [http://www.bezern.com/] • Apply the concepts of supply and demand to determine the impact of changes in marketconditions in the short run and long run, and the economic impact on a company’s operations. [http://www.bezern.com/]• Use technology and information resources to research issues in managerial economics andglobalization. [http://www.bezern.com/]• Write clearly and concisely about managerial economics and globalization using proper writingmechanics. [http://www.bezern.com/]

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