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Specifically, the following critical elements must be addressed:
I. Overview: Provide an overview consisting of a brief description of the chosen company and your chosen product or service, including the industry the product or service falls under. You should include key details about the company, including its main products and/or services, number of employees, and annual sales
II. Production and Costs
a) Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service. One example of an input is machines, which are fixed costs. Keep in mind that all inputs will either fall under fixed or variable cost.
b) Analyze the factors that impact your choice of inputs to produce the chosen product or service. For example, how would a change in the price of raw materials impact the combination of inputs?
c) Based on this analysis, what production decisions would you make? Be sure to support your decisions with examples or data.
III. Market Structure
a) Determine whether the market structure of the industry in which your chosen company operates is perfectly competitive, monopolistically competitive, oligopolistic, or monopolistic. Justify your response.
b) Assess how the type of market structure impacts your chosen company’s financial performance as measured by performance variables over the past three years. Support your response with data and graphs illustrating two performance variables of your choosing (e.g., sales, net income, stock price) over time.
c) How would possible changes in the industry’s market structure impact your chosen company’s business strategy in the future? Keep your company’s current business strategy in mind in your response.
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