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Choose an existing good or service from Will Bury's Price Elasticity, Incremental expenses, or Thomas Money Service Corporation scenarios, or choose an existing business with which you are familiar.

Please provide help on writing a business proposal to improve an existing good or service for the selected company. Include assumptions about the elasticity of demand and the market structure for the company's good or service.

Include rationale for the following questions:

  1. How will you increase revenue?
  2.  How will you determine the profit-maximizing quantity?
  3. How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?
  4. What is your suggested mix of pricing and non-pricing strategies? Explain your answer.
  5. Can you create or increase barriers to entry? If so, how?
  6. How will you increase product differentiation?
  7. Are there other ways to minimize costs for the product?

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9309569

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