You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes. You will assess how the market structure positively and negatively affects the organization’s ability to earn an economic profit over time and evaluate the effectiveness of the organization’s competitive strategies. Select an industry. Identify an organization in that industry. Your selected organization must be submitted for instructor approval. Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon and how this market structure differentiates from the other alternatives. Describe the level of competition the organization will face if under each of the following market structures: Oligopoly Perfect competition Monopoly Monopolistic competition Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Evaluate the effectiveness of these strategies in the market structure you identified. Consider the following: Expected changes in supply and demand Price elasticity of demand Market structure Government regulations Make recommendations related to the strategies the organization might consider to maximize its profits and consider the following: What are the ethical implications of these strategies? Does this strategy align with the organization’s current values? Does this strategy align with your own values? Cite a minimum of 3 peer reviewed sources. Write a 1,400- to 1,750-word paper. Format consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. Click the Assignment Files tab to submit your assignment.

microeconomics

Choose a product (or group of products) that are significantly impacted by supply and demand. Imagine that you are themanager leading the team responsible for this product. You have been asked to share information with your supervisor as to the potential ways in which the product can be affected by supply, demand, and market equilibrium and the implications for strategic planning related to this project. Apply your understanding of these concepts to the product and prepare an informative summary that could be shared with your supervisor.

microeconomics

Choose a product (or group of products) that are significantly impacted by supply and demand. Imagine that you are themanager leading the team responsible for this product. You have been asked to share information with your supervisor as to the potential ways in which the product can be affected by supply, demand, and market equilibrium and the implications for strategic planning related to this project. Apply your understanding of these concepts to the product and prepare an informative summary that could be shared with your supervisor.