Choose and research a specific business that is publicly traded where there has been a pattern of change in a particular market model based on demand and supply.
Make a report of 4 to 5 pages
Question1. Evaluate the different principles and concepts of managerial economics for decision making.
a) Describe the business and explain the general pattern of change of the particular market model indicating how this change is likely to impact business operations.
b) Hypothesize the basic short-run and long-run behaviors of the model in the business you have chosen in a “market economy.” Provide support for your assumptions and conclusions.
Question 2) Apply the demand and supply tools to comprehend the functioning of an open market economy.
a) Explain the major factors that affect the degree of competitiveness in your business. Use the data to develop at least three
b) Research two (2) of the business’s closest competitors to determine the pricing strategy for each business indicating how knowledge of this information may influence pricing decisions in your business. Provide support for your rationale.
Use high-quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
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