What strategies can the company use to minimize costs and maximize revenue?Does your company engage in unethical labor practices abroad or has it outsourced jobs to other countries? Does the ethics of what they do hurt the company?

Managerial Economics

In this assignment, you will apply information learned about global trade and exchange rates by applying strategies your chosen company (APPLE, INC.) can use to increase revenue and profitability. Consider if your company (APPLE, INC.) does business abroad or if it has foreign customers. What strategies can the company use to minimize costs and maximize revenue?

Using the company you have chosen (APPLE, INC.) for analysis in this class:

Determine the imports and exports in which your company engages.

Does your company import goods to sell to US consumers?

Does your company manufacture in the US?

Will the value of the dollar hurt or help your company?

Does your company engage in unethical labor practices abroad or has it outsourced jobs to other countries? Does the ethics of what they do hurt the company?

Using your research, forecast what impact this information will have on your company and what strategies they should employ to maximize revenue and profit.

Combine this information with the previous information on the following topics:

Consumer demand

Elasticity

Market structure

Product pricing

Cost structure

Impact of macroeconomic factors

Impact of possible fiscal and monetary policy

Prepare a presentation to the stakeholder group for the company you have chosen for analysis in this class outlining the economic factors that may impact this company going forward.

Presentation

Create a voice-over PowerPoint presentation.

Your slides should have brief bullet points (MUST INCLUDE SPEAKER NOTES FOR EACH SLIDE) while you narrate the presentation with the detail. At the end of your presentation you must have a reference slide showing all sources used for the presentation.

What is the elasticity of supply for this good or service? Will the company be able to respond to changes in price?

Managerial Economics

Purpose

It is important to understand the elasticity of one’s good or service so that decisions can be made as to pricing as well as production. Price elasticity helps with pricing decisions and income elasticity let’s one know if the product is a normal or inferior good.

In this assignment you will use the company you selected to practice making decisions based on elasticity.

Instructions

Using the company you have chosen for analysis in this class (Apple, Inc.), conduct research to determine the following and then write a paper addressing this research:

Is the good or service sold by the company price elastic or inelastic?

How price elastic or inelastic is it?

How important is the income elasticity of demand for this good or service?

Is the product a normal good or an inferior good?

What is the elasticity of supply for this good or service? Will the company be able to respond to changes in price?

Based on your research, what strategies would work for your company to maximize revenue and profits?

The paper should be 2 1/2 – 3 pages typed (font size 12, double spaced, Times New Roman), adhering to proper grammar, writing structure, topic organization, clarity of thought, and use of supplemental content.

Your paper must adhere to APA citation guidelines.