Current global economic conditions and their effect on local macroeconomic
- Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service.
- Describe the local economy’s stage in the business cycle.
- Describe how current credit market conditions affect your planning or operating decision for your good or service.
- Identify market structure
- Identify elasticity of the product
Include rationale for the following questions:
- How will pricing relate to elasticity of your product?
- How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost and marginal revenue?
- Besides your pricing decisions, what are your suggested non-pricing strategies? What non-pricing strategies will you use to increase barriers to entry?
- How could changes in your business operations alter the mix of fixed and variable costs in line with your strategy?
No more than 2100 words (in addition to the 1400 word paper completed in week four, an additional three pages at most is needed)