* The paper is due at the beginning of class on Monday, October 31
Assignment: You are required to construct a case study/research paper during the first part of the term. The primary purpose of the paper is to: * Further understand the economic way of thinking
* Give you an incentive to think critically about course information * Apply economic principles to firms at microeconomic level in the U.S.
Goal: Construct a case study/research paper that examines a firm in the U.S. from a microeconomic standpoint and provide suggestions based on your findings. * Step 1: Choose a firm for your focus. In addition to picking a firm that you find interesting, you will need to pick a firm that you can examine in detail. Publicly traded companies file reports with a great deal of information, although you may have insight into specific firms. Feel free to use any firm that you want. * Step 2: You will need to complete an analysis of the following categories for your firm. BE SURE TO CREATE A SEPARATE SECTION WITH A HEADING FOR EACH CATEGORY BELOW! The following must be included: * How have supply and demand conditions impacted the firm in recent years? Note: Be sure to examine the various factors that can shift supply and demand. * Examine the elasticity of demand for you firm’s product. * What is (are) your firm’s primary competitive advantage(s)? In other words, what does your firm do well? * Are there entry barriers for firms in this industry? * What substitutes are available for your product?
* What is the market share for firms in the industry?
* What market structure best describes the conditions your firm faces? * Step 3: Based on the characteristics of your firm, provide advice regarding what you think the firm should do going forward.
* Be sure to include a separate section with the introduction, each category above, and...