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Week3 assignment 1

Assignment 1: Demand Estimation
Due Week 3 and worth 200 points

Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April.

For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located athttp://www.sophia.org/tutorials/independent-and-dependent-variables–3.

Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. 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 short-term and 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 its market share. Provide support for your recommendation.

4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars.

1. Plot the demand curve for the firm.

2. Plot the corresponding supply curve on the same graph using the supply function Q = 5200 + 45P with the same prices.

3. Determine the equilibrium price and quantity.

4. Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

5. Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.

6. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the 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 of individual firms.

· Apply the concepts of supply and demand to determine the impact of changes in market conditions 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 and globalization.

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

Option 1
Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.
QD = – 5200 – 42P + 20PX + 5.2I + .20A + .25M
(2.002) (17.5) (6.2) (2.5) (0.09) (0.21)
R2 = 0.55 n = 26 F = 4.88

Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables:

Q = Quantity demanded
P (in cents) = Price of the product = 500
PX (in cents) = Price of leading competitor’s product = 600
I (in dollars) = Per capita income of the standard metropolitan statistical area
(SMSA) in which the supermarkets are located = 5,500
A (in dollars) = Monthly advertising expenditures = 10,000
M = Number of microwave ovens sold in the SMSA in which the
supermarkets are located = 5,000

Week 6 assignment 2

Assignment 2: Operations Decision

Due Week 6 and worth 300 points

Using the regression results and the other computations from Assignment 1, determine the market structure in which this frozen, low-calorie microwavable food company now operates.

[In assignment #1, the company estimated a demand curve and used a marginal cost curve as its supply curve. You determined the equilibrium in the market where P =MC [or Qs = Qd]. You calculated the various elasticities using the estimated demand at its current price of 500 cents. While not required, if you look at the own price elasticity at the equilibrium price and quantity solved for in Assignment #1 you will notice a problem for the firm if it thinks it is operating in a competitive market.

Now that you know that the firm faces a downward sloping demand curve and that it has pricing power, you are being asked to rethink how the firm should behave in the market as it actually used its pricing power to determine the profit maximizing price and output in this assignment.

Use the Internet to research two (2) leading competitors in the low-calorie microwavable food industry, and take note of their pricing strategies, profitability, and their relationships within this industry (within the USA and worldwide). Use the IBIS Report for the Frozen Food Production Industry (SIC Code 31141) to be provided by your instructor.

Write a six to eight (6-8) page paper in which you:

1. Outline a plan that will assess the impact of the market structure/cost data based on the activity in the first assignment for the company’s operations. Use a supply curve of the following form to reexamine your conclusions from the first assignment: Qs = -7909.89 +79.0989P [OR MC = 100 + 0.01264Q]. This new supply curve gives you the same equilibrium price and quantity as before, but is based on the firm’s marginal cost curve and its behavior in Assignment #1.

Further assume that the estimate of the firm’s AVC = 100 + 0.009Q and that VC/TC =0.71 always [implying that FC/TC = 0.289]. These are the industry average estimates from the IBIS report for this industry.

2. Suppose the business operations have now changed from the market structure analyzed in the activities required for the first assignment due to this new data about costs. Determine two (2) likely factors that might have caused the changed behavior. Predict the primary manner in which this change would likely impact business decisions in the new market environment.

3. Analyze the major short-run and long-run production and cost functions implied by this new cost data for the frozen, low-calorie microwaveable food company. Use the information contained in the IBIS report. Suggest substantive ways in which the frozen, low-calorie food company may use this information in order to make decisions in both the short-run and the long run.

4. Determine the possible circumstances under which the company should discontinue operations. While no specific fixed or total cost data are provided, use the newly provided cost data above and your knowledge from the textbook on the relation of fixed and variable costs to revenue to develop estimates that might suggest key actions that management should take in order to confront these circumstances. Provide a rationale for your response.

5. Suggest one (1) pricing policy that will enable your frozen, low-calorie microwavable food company to maximize profits. Provide a rationale for your suggestion that will involve comparison of the first assignments two possible price and quantity pairs with the new optimum presented here in Assignment #2

6. Outline a plan, [based on the original information provided in the first assignment along with the IBIS report industry cost data for the firm], that the company could use in order to evaluate its financial performance. Consider all the key drivers of performance, such as company profit or loss for both the short term and long term, and the fundamental manner in which each factor influences managerial decisions.

7. Recommend two (2) actions that the company could take in order to improve its profitability and deliver more value to its stakeholders in line with the recent history and forecast future behavior for the Frozen Food Production Industry [SIC Code 31141] as outlined in the IBIS report. Outline, in brief, a plan to implement your recommendations.

8. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Week 9 assignment 3

Students, please view the “Submit a Clickable Rubric Assignment” in the Student Center.
Instructors, training on how to grade is within the Instructor Center.

Assignment 3: Long-Term Investment Decisions
Due Week 9 and worth 300 points

Assume that the low-calorie microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions.

Use the Internet and Strayer databases to research government policies and regulation.

Write a six to eight (6-8) page paper in which you:

1. Outline a plan that managers in the low-calorie microwaveable food company could follow when selecting pricing strategies for making their products as inelastic as possible. Provide a rationale for your response.

2. Examine the major effects that government policies have on production and employment. Predict the potential effects that government policies could have on your company.

3. Determine whether or not government regulation to ensure fairness in the low-calorie microwavable food industry is needed. Cite the major reasons for government involvement in a market economy. Provide two (2) examples of government involvement in a similar market economy to support your response.

4. Examine the major complexities that would arise under expansion via capital projects. Propose key actions that the company could take in order to prevent or address these complexities.

5. Suggest the substantive manner in which the company could create a convergence between the interests of stockholders and managers. Indicate the most likely impact to profitability of such a convergence. Provide two (2) examples of instances that support your response.

6. Use at least five (5) quality academic resources in this assignment.Note: Wikipedia does not qualify as an academic resource.

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

· Propose how differences in demand and elasticity lead managers to develop various pricing strategies.

· Analyze the economic impact of contracting, governance and organizational form within organizations.

· Use technology and information resources to research issues in managerial economics and globalization.

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

Interested in a PLAGIARISM-FREE paper based on these particular instructions?...with 100% confidentiality?