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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. []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. []sophia. []org/tutorials/independentand-dependent-variables–3. []Note: Your professor will provide you with the equation and data necessary for you to complete thisassignment. [] You will find this information attached to Assignment 1 within the course shell. []Write a four to six (4-6) page paper in which you:1. [] Compute the elasticities for each independent variable. [] Note: Write down all of your calculations. []2. [] Determine the implications for each of the computed elasticities for the business in terms of shorttermand long-term pricing strategies. [] Provide a rationale in which you cite your results. []3. [] Recommend whether you believe that this firm should or should not cut its price to increase itsmarket share. [] Provide support for your recommendation. []4. [] Assume that all the factors affecting demand in this model remain the same, but that the pricehas changed. [] Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. []a) Plot the demand curve for the firm. []b) Plot the corresponding supply curve on the same graph using the following MC / supplyfunction Q = -7909. []89 + 79. []0989P with the same prices. []c) Determine the equilibrium price and quantity. []d) Outline the significant factors that could cause changes in supply and demand for theproduct. [] 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. []5. [] Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand andsupply curves. []6. [] Use at least three (3) quality academic resources in this assignment. [] Note: Wikipedia does notqualify as an academic resource. []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. [] Check with yourprofessor for any additional instructions. []• Include a cover page containing the title of the assignment, the student’s name, the professor’sname, the course title, and the date. [] The cover page and the reference page are not included inthe required assignment page length. []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. [] • 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. []• Use technology and information resources to research issues in managerial economics andglobalization. []• Write clearly and concisely about managerial economics and globalization using proper writingmechanics. []

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