The Impact of Economics on My Life as a Business

In order for business people to become successful in today’s global business, each businessman should be knowledgeable in study of microeconomics and macroeconomics. For the purpose of this study, the importance of the basic principles of microeconomics such as the supply and demand of labor and products2 and how individuals, households, and firms make decisions with regards to allocating their limited resources in markets where the trading of goods and services occurs3. and the macroeconomics which focuses particularly on the external factors that could affect the variables such as the Gross Domestic Product (GDP), unemployment rate, inflation rate, and exchange rate4 will discussed in order to enable the businessmen to understand and apply the useful economic theories in their future business decision making. Businessmen should be aware that there is a significant correlation between the increase in demand for goods and services as well as with the demand for labor. In case the economy of a country is booming, the domestic demand for finished products increases. The increase in the demand for products contributes to the increase in demand for human resources (workforce). Basically, this allows the talented men and women to have the demand for a higher salary or have an option to take double jobs and longer working hours. (See Figure I – A Good Economy below) On the other hand, in case the country is experiencing economic downturn or recession such as the Asian crisis in 1997 or a tragic event such as the September 11 terrorist attack in the United States, the demandfor human resources decreases since a lot of local businesses were directly affected and eventually had to declare bankruptcy or impose a mass lay-offs in order for them to be able to sustain the business financially.

The Concept of Microeconomics

The paper attempts to present the concept first followed by its practical utility. The concepts presented are perfect competition, monopoly, imperfect competition, and oligopoly. These concepts are of high practical importance and everyone can be felt if she/he observes the market. The concepts are described simply and lucidly, which can be understood even by a layman. No chart and graphs have been used to support the description.The paper is prepared in such a manner that each question is followed by its answer so that it will be of immense help to the reader to easily understand the situation. A brief structure of the answer is given below:This paper is meant to attain the academic objective of a thorough understanding of the concepts in microeconomics and its usefulness in the actual market. The paper attempts to present the concepts in a simple and comprehensible manner so that the reader can get a clear picture of what is described. A perfect market is a market condition where there are a large number of buyers and sellers. The sellers are allowed to enter and exit the market at any time. A perfect market encourages competition and price stability. At the same time, better quality product/service can be expected as buyers have many choices to select their seller. A monopoly is a situation wherein single seller exercise control over all the operations in his/her product market and makes use of every up and down in the market for economic gain. A monopolistic market is featured by many small sellers in the market. Each seller is small relative to the total market and naturally, the pricing decision of the firm has only a negligible effect on the total market. Firms in the industry make a differentiated product.From an economist’s point of view, a market is a distinctive mix of various market forces like the number of buyers and sellers, free/ barriers to entry or exit of firms, homogeneous/heterogeneous product.

The Impact of Economics on My Life as a Business

In order for business people to become successful in today’s global business, each businessman should be knowledgeable in study of microeconomics and macroeconomics. For the purpose of this study, the importance of the basic principles of microeconomics such as the supply and demand of labor and products2 and how individuals, households, and firms make decisions with regards to allocating their limited resources in markets where the trading of goods and services occurs3. and the macroeconomics which focuses particularly on the external factors that could affect the variables such as the Gross Domestic Product (GDP), unemployment rate, inflation rate, and exchange rate4 will discussed in order to enable the businessmen to understand and apply the useful economic theories in their future business decision making. Businessmen should be aware that there is a significant correlation between the increase in demand for goods and services as well as with the demand for labor. In case the economy of a country is booming, the domestic demand for finished products increases. The increase in the demand for products contributes to the increase in demand for human resources (workforce). Basically, this allows the talented men and women to have the demand for a higher salary or have an option to take double jobs and longer working hours. (See Figure I – A Good Economy below) On the other hand, in case the country is experiencing economic downturn or recession such as the Asian crisis in 1997 or a tragic event such as the September 11 terrorist attack in the United States, the demandfor human resources decreases since a lot of local businesses were directly affected and eventually had to declare bankruptcy or impose a mass lay-offs in order for them to be able to sustain the business financially.

The Concept of Microeconomics

The paper attempts to present the concept first followed by its practical utility. The concepts presented are perfect competition, monopoly, imperfect competition, and oligopoly. These concepts are of high practical importance and everyone can be felt if she/he observes the market. The concepts are described simply and lucidly, which can be understood even by a layman. No chart and graphs have been used to support the description.The paper is prepared in such a manner that each question is followed by its answer so that it will be of immense help to the reader to easily understand the situation. A brief structure of the answer is given below:This paper is meant to attain the academic objective of a thorough understanding of the concepts in microeconomics and its usefulness in the actual market. The paper attempts to present the concepts in a simple and comprehensible manner so that the reader can get a clear picture of what is described. A perfect market is a market condition where there are a large number of buyers and sellers. The sellers are allowed to enter and exit the market at any time. A perfect market encourages competition and price stability. At the same time, better quality product/service can be expected as buyers have many choices to select their seller. A monopoly is a situation wherein single seller exercise control over all the operations in his/her product market and makes use of every up and down in the market for economic gain. A monopolistic market is featured by many small sellers in the market. Each seller is small relative to the total market and naturally, the pricing decision of the firm has only a negligible effect on the total market. Firms in the industry make a differentiated product.From an economist’s point of view, a market is a distinctive mix of various market forces like the number of buyers and sellers, free/ barriers to entry or exit of firms, homogeneous/heterogeneous product.

MICROECONOMICSDISCUSSIONANDASSIGNMENT

MICROECONOMICSLOG IN FOR THE BOOK IS AT THE BOTTOM Use microeconomics 4thedition book DISCUSSION There is much discussion in the press about several states moving to legalizing marijuana, either for only medical purposes, or more extremely, for recreational purposes. Looking only at the economic impact (not moral implications) of such changes in the laws, discuss how the existing system of supply and demand for illegal marijuana will be changed with the new legalization.a. What will happen to existing supply avenues?b. Will legalization significantly change demand? How?c. Would one expect prices to change significantly? How?d. What would be the costs and benefits to governments, both in changes in enforcement requirements and in potential tax revenue?ASSIGNMENT PLEASE SEE ATTACH….THERE SHOULD BE TWO. ONE ATTACHED UNIT 3 HINT IS A HINT PAPER THAT WILL GUIDE YOU TO COMPLETE THE OTHER UNIT 3 ATTACHED ASSIGNMENTLOGIN FOR MY BOOKS. YOU CAN DOWNLOAD THE APP WHICH IS BOOKSHELF…or log in from the computer is vitalsource.comI will tell you the username and email when accept work.https://bookshelf.vitalsource.com/#/books/9781464144820 TRY USING THIS LINK TO GET TO THE LOGIN…this will give you the books for both THE ASSIGNMENTS

Paper 2 Global econmoics

(a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on(i) the home country’s consumers of Y,(ii) the home country’s producers of Y, and(iii) the home government’s tax revenues. Assume that the country is a “small” country. Then evaluate the “net welfare effect” of the tax on the country. Why might a country want to impose an export tax? Explain.(b) Suppose now that the country imposing the export tax in part (a) of this question is a “large” country rather than a “small” country. Is it an advantage or a disadvantage for a country to be “large” rather than “small” when it imposes an export tax? Explain.Posted: 2 hours agoDue: 28/03/2020Budget: $20Tags: Project managementAnswers 0Bids 89Moen ZafarQuickly answer university workEssays Guruwizard kimTalentedtutorDr. Smith HarveyEmily ClareRanju Lewisabdul_rehman_ANN HARRISHomework ProElprofessoriUrgent TutorAmerican TutorWIZARD_KIMhassan0906Brainy BrianMathStat GeniusDr shamille ClaraStano 001brilliant answersPaula HogSophia MilesEmily MichaelCatherine Owenssmart-tutorWendy Lewisprofessor mitchmichael smithquality work for allTerry RobertsBrooklyn Milan Rey writermadam-professorNursing_MissSuper ProffTaylor Rodmantutor-mitchelleCasey CeliaEva GreenChrisProfProf.MacQueenkim woodsPhd christineTiny ChrisMiss ProfessorTutorJoeKimDrNicNgaoansRohanseniorwriterClytemnestraimhmd.fSasha Spencerphyllis youngSaad FahimProf. ClarisembithehPROF. ANNJessica LuisAngelina MayAsad UllahTutor Cyrus KenperfectoRanchoddas Chanchad PhDwork solutionsDr. Elahifirstclass tutorprof avrilPROFJUMAAACourseCrackerA-Grade Writernyamaimulesarapaul2013Abdullah AnwarSaburBCotton CandyMiss Emily BluntHarris KhanRandyaHickeyJenny BoomTutor-paulageraldwaitaMiss Lily J.SolutionMartturtor odengiTop Notch AnswerjohnmutuajmAmelia IrisOther questions 10Governments involvement in the private sectorCase 3 and 4Healthy people 2020MGT/420 – Opportunities and Impacts of Quality OrganizationsAll students and teachers are talkingBUS 302 WEEK 2 DISCUSSION (MORE THAN ONE ANSWER POSTED)Principles of Microeconomics: Raise or Lower Tuition?MHA 626 Strategic Planning & Marketing in Health CareWeek 5: Response 1 and 2 December 28, 2016red19Rated 1 timesUsing a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country's government on (i) the home country's consumers of Y,a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of …Not ratedDemand and supply; effects of export taxes on consumer and producer of carsUsing a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of …Not ratedCLA 1 6 pages due in 5hrsCLA 1- Comprehensive Learning Assessment I – CLO1, CLO2, CLO3(a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a …Not ratedGLOBAL ECONOMICSCLA 1- Comprehensive Learning Assessment I – CLO1, CLO2, CLO3 (a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a …Not ratedeconomicsNot ratedGlobal Econommics(a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of Y, …Not ratedGlobal Economics(a) Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of Y, …28/03/202020businessfinance

Microeconomics and Organizational Behavior 3

Attached are 2 assignments and 2 discussions. For the assignment in the microeconomics class you will look at the attached hint paper to complete the assignment for unit 3.Fairly easy for you! Please us a separate piece of paper to do this assignment. I think this is what the directions ask for please reassure that for me. I have 4 attached papers that will help you through this, videos, hint paper and the other two are the attached discussion and the assignment. Read chapter 3 supply & demandFor the organizational behavior class just do as the directions say. I will show you how to get how to get these books.Read chapter 4 & 5MICROECONOMICSDISCUSSIONANDASSIGNMENT.docxUnit3Videos.htmlHintsforUnit3Assignment.docxBU224_Unit_3_Assignment_Template.docx1.docxORGANIZATIONALBEHAVIORDISCUSSIONANDASSIGNMENT.docxPosted: a year agoDue: 02/11/2018Budget: $20Answers 2kim woods4.5 (796)4.7 (26k )Chata year agoPurchase the answer to view itorder_106909_272022.docTry it first(plagiarism check)Buy answer $5TutorAhmed01 (Not rated)1.5 (9)Chata year agoPurchase the answer to view itTry it first(plagiarism check)Buy answer $0.01Bids 59Dr. Rocalfarhatullahwizard kimprofessor HarveyMich MichieDr. Claver-NNYoung Kim hoodsFadia NawazFadia Nawazsuraya_PhDEssays GuruChance Of a LifetymProf AllanK_FAM SOLUTIONSMichelle GordonProf. ScriptEpic Writer PhdAsad UllahBrainy BrianGabriella Owensbrilliant answersCatherine OwensA-plus WriterThe quA lityGlass HouseMBA MASTERJenny Boomkim woodstutorjassProf. Dan.Phd christineBrilliantEzzayZseniorwriterphyllis youngWendy LewisMiss Lynnguru answersquality work for allDr.Qura-tul-ainJOHN JUNIOR001Miss ProfessorperfectoAabish AabidahDrNicNgaowork solutionsprof avrilProf. GoodwillPh.D A GradeanswersmasterJohn Mureithiprofstanoh1Laiba Elishaprof faizahkimz14AcuteMorganphyl doctorProfnyutublessedmamacommittedOther questions 10Chapter 13 HWgeo1Career goals research paperAcc 564For Tom mutunga – Training Plan Assessment PaperFor today at 10 PM East Coast TimeEssay M1-A3 Assignment 3: Demand and SupplyFor Computer ScienceEDMG220 B002 Fall 15: week 1 Forum B -Hazards, Emergencies, Disasters, and Catastrophes Not ratedMicroeconomics Assignment I have an assignment that I cannot do. I need help with this assignment. I will include a hint paper, videos, and login to look at my books.Not ratedUnit 3 AB224 Microeconomics Unit 3 AssignmentUnit 3 Assignment:Supply and DemandGeneral Instructions for all Assignments1. Unless specified differently by your course instructor, save this assignment template to your computer with the following …02/11/201820businessfinance

Topic3/1

Discuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why is it important that nurses implement health promotion interventions based on evidence-based practice?Posted: 8 minutes agoDue: 25/01/2020Budget: $8Tags: DQAnswers 0Bids 47Tutor FaithTeacher A Workwizard kimProCastrol01Elprofessoribrilliant answersYourstarMusyokionesProf BerryCatherine OwensWendy LewisHomework ProDr shamille ClaraRESPECT WRITERTerry RobertsAll Works solverUltimate GEEKEmily MichaelWIZARD_KIMperfectoDr Candice_2547Paula HogEva Greenabdul_rehman_university workRey writerStano 001quality work for allYhtomitQuickstack001mbithehCasey Celiaphyllis youngRELIABLE PAPERSDrNicNgaoChrisProfJahky BLiza_JulietTiny Chrisfastestwriter1Dr. ElahiSaburBProf SolutttionsUnique_ProfSolutionsHutOneStopTutorsDr. TopGuyOther questions 10Payment Link mometag :)ffHW 1.2Unit3Portfolio_Martinez, I have posted 2 assignments each one page /275 words one source they are all due in 8 hours from nowDifferences between leadership and ManagementDifferentiating Between Market StructuresInternational Accounting: Exercises 4 and 5 (Quality Work Only)Ashworth BZ420 Online Exam 1 (All Correct)Anti-Discrimination Laws Related to EmploymentRated 1 timeshow Concept of health has changed overtimehow concept has evolved i wellness, illness, and health promotionNot rated300 words Discuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why is …Not rated1209W3H1Discuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? …Not ratedDiscussion postDiscuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? …Not ratedDiscuss how the concept of “health” has changed overtime.Discuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why …Not ratednursingDiscuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why is …Not rated Topic 3 DQ 1Discuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? …Not ratedHealth PromotionDiscuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why is …Not ratedDQDiscuss how the concept of “health” has changed overtime. Discuss how the concept has evolved to include wellness, illness, and overall well-being. How has health promotion changed over time? Why is …Not ratedHealth concept System Admin Max Points: 8.0 Discuss how the concept of “health” has changed overtime. …Blog ArchiveCopyright © 2019 HomeworkMarket.com Read MoreApplied SciencesArchitecture and DesignBiologyBusiness & FinanceChemistryComputer ScienceGeographyGeologyEducationEngineeringEnglishEnvironmental scienceSpanishGovernmentHistoryHuman Resource ManagementInformation SystemsLawLiteratureMathematicsNursingPhysicsPolitical SciencePsychologyReadingScienceSocial Science window.__REDUX__STATE__ = ‘{“appMeta”:{“serverRendered”:true},”apiRequests”:{“pendingRequestCount”:0,”succeededRequestCount”:4,”failedRequestCount”:0,”requestCounters”:{“GET_FIELDS_PENDING”:0,”GET_ENTITY_PENDING”:0,”GET_FIELDS_SUCCESS”:1,”GET_ENTITY_SUCCESS”:1,”GET_SIMILAR_QUESTIONS_PENDING”:0,”GET_OTHER_QUESTIONS_PENDING”:0,”GET_OTHER_QUESTIONS_SUCCESS”:1,”GET_SIMILAR_QUESTIONS_SUCCESS”:1}},”currentUserMeta”:{“id”:0,”isGuest”:true,”isReceivingEmails”:null,”authMethod”:null,”approvalTicket”:null,”fees”:null,”disputesAmount”:null,”earningsStats”:{“questions”:{“totalPurchases”:0,”totalIncome”:0},”tutorials”:{“totalPurchases”:0,”totalIncome”:0}}},”modal”:{},”joyride”:{“steps”:[]},”users”:{“guest-0”:{“role”:”student”,”isGuest”:true}},”usersStatuses”:{},”usersThreads”:{},”usersReviews”:{},”usersQuestions”:{},”reviewsPage”:{“results”:[]},”reviews”:{},”answersReviews”:{},”threads”:{},”questions”:{“7946543”:{“body”:”Your supervisor has placed you in charge of hiring a new, full-time administrative assistant for your department.Prepare an advertisement for that position that complies with federal law. This …”,”id”:7946543,”title”:”Anti-Discrimination Laws Related to Employment”,”isTutorial”:false,”isEssay”:true,”due”:”2016-02-01T11:00:00.000Z”,”budget”:25,”fieldOfStudyId”:2600,”userId”:143022,”published”:true,”newBids”:0,”createdAt”:”2016-01-30T09:23:47.000Z”,”fieldOfStudy”:{“id”:2600,”name”:”Human Resource Management”,”anchor”:”Human Resource Management”,”createdAt”:”2017-09-06T03:15:16.000Z”,”path”:{“id”:5886191,”path”:”/fields/human-resource-management”,”sitemap”:true,”amp”:false,”createdAt”:”2017-12-24T22:55:21.000Z”}},”path”:{“id”:958964,”path”:”/content/anti-discrimination-laws-related-employment-7946543-2″,”sitemap”:true,”amp”:true,”createdAt”:”2017-09-06T03:23:07.000Z”}},”7946797″:{“body”:”QuestionPart 1 of 1 -…”,”id”:7946797,”title”:”Ashworth BZ420 Online Exam 1 (All Correct)”,”isTutorial”:true,”isEssay”:false,”due”:”2028-01-31T00:00:00.000Z”,”budget”:17,”fieldOfStudyId”:6700,”userId”:251572,”published”:true,”newBids”:0,”createdAt”:”2016-01-30T09:52:38.000Z”,”fieldOfStudy”:{“id”:6700,”name”:”Business Finance – Management”,”anchor”:”Management”,”fieldOfStudyId”:900,”createdAt”:”2017-09-06T03:15:16.000Z”,”path”:{“id”:5886227,”path”:”/fields/business-finance-management”,”sitemap”:true,”amp”:false,”createdAt”:”2017-12-24T22:55:21.000Z”}},”path”:{“id”:958986,”path”:”/content/ashworth-bz420-online-exam-1-all-correct”,”sitemap”:true,”amp”:true,”createdAt”:”2017-09-06T03:23:07.000Z”}},”7950173″:{“body”:””,”id”:7950173,”title”:”International Accounting: Exercises 4 and 5 (Quality Work Only)”,”isTutorial”:false,”isEssay”:false,”due”:”2016-01-31T11:00:00.000Z”,”budget”:3,”fieldOfStudyId”:1900,”userId”:507782,”published”:true,”newBids”:0,”createdAt”:”2016-01-30T14:53:07.000Z”,”fieldOfStudy”:{“id”:1900,”name”:”Business Finance – Accounting”,”anchor”:”Accounting”,”fieldOfStudyId”:900,”createdAt”:”2017-09-06T03:15:16.000Z”,”path”:{“id”:5886183,”path”:”/fields/business-finance-accounting”,”sitemap”:true,”amp”:false,”createdAt”:”2017-12-24T22:55:21.000Z”}},”path”:{“id”:959262,”path”:”/content/international-accounting-exercises-4-and-5-quality-work-only”,”sitemap”:false,”amp”:true,”createdAt”:”2017-09-06T03:23:07.000Z”},”rating”:{“id”:1058129,”grade”:60,”num”:2,”createdAt”:”2018-03-18T08:20:56.000Z”}},”7952067″:{“body”:”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 …”,”id”:7952067,”title”:”Differentiating Between Market Structures”,”isTutorial”:false,”isEssay”:false,”due”:”2016-02-01T00:00:00.000Z”,”budget”:25,”fieldOfStudyId”:2300,”userId”:585803,”published”:true,”newBids”:0,”createdAt”:”2016-01-30T17:50:12.000Z”,”fieldOfStudy”:{“id”:2300,”name”:”Business Finance – Economics”,”anchor”:”Economics”,”fieldOfStudyId”:900,”createdAt”:”2017-09-06T03:15:16.000Z”,”path”:{“id”:5886187,”path”:”/fields/business-finance-economics”,”sitemap”:true,”amp”:false,”createdAt”:”2017-12-24T22:55:21.000Z”}},”path”:{“id”:959450,”path”:”/content/differentiating-between-market-structures-7952067-2″,”sitemap”:true,”amp”:true,”createdAt”:”2017-09-06T03:23:07.000Z”}},”7954879″:{“body”:”There are many differences between leadership and management. For this assignment write a 1 – 2 page paper that examines those differences. Be sure to cover the following:What are the …”,”id”:7954879,”title”:”Differences between leadership and Management”,”isTutorial”:false,”isEssay”:false,”due”:”2016-01-31T01:00:00.000Z”,”budget”:5,”fieldOfStudyId”:6700,”userId”:525677,”published”:true,”newBids”:0,”createdAt”:”2016-01-30T22:21:40.000Z”,”fieldOfStudy”:{“id”:6700,”name”:”Business Finance – Management”,”anchor”:”Management”,”fieldOfStudyId”:900,”createdAt”:”2017-09-06T03:15:16.000Z”,”path”:{“id”:5886227,”path”:”/fields/business-finance-management”,”sitemap”:true,”amp”:false,”createdAt”:”2017-12-24T22:55:21.000Z”}},”path”:{“id”:959724,”path”:”/content/differences-between-leadership-and-management”,”sitemap”:true,”amp”:true,”createdAt”:”2017-09-06T03:23:07.000Z”}},”7956331″:{“body”:”I have posted 2 assignments each one page /275 words one source they are all due in 8 hours from nowGeneral Psychology: Interpret an instance of behavior (individual or collective) recently in …25/01/20208nursing

“Final Project Microeconomics &quot

NetFlix&quot – Due 1/19/20 by 15:00 EST”Imagine that you are a consultant to Netflix. Netflix has hired you to advise on how it can ensure its future success as a company in its current market.Write a 7–9-page research paper analyzing market and business data to explain how the core microeconomic principles impacts the sustainability of Netflix and what actions it can take to ensure success.Specifically the following critical elements must be addressed:I. Introduction firm that matches the following criteria: a publicly traded company operating in the U.S. market that is currently in business.a. Outline the purpose of the paper and how it will inform your conclusion.b. Summarize the history of Netflix, and provide an overview for what Netflix does and what goods/services it sells.II. Explore the supply and demand conditions for Netflix’s product.a. Evaluate trends in demand over time, and explain their impact on the industry and Netflix. Include annual sales figures for the product Netflix sells.b. Analyze information and data related to the demand and supply Netflix’s product(s) to support your recommendation for Netflix’s actions. Remember to include a graphical representation of the data and information used in your analysis.III. Examine the price elasticity of demand for the product(s) Netflix’s sells.a. Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for Netflix’s product.b. Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.c. Assess how the price elasticity of demand impacts Netflix pricing decisions and revenue growth.IV. Examine the costs of production for Netflix.a. Analyze the various costs Netflix faces, their trends over time, and how they have impacted Netflix’s profitability.b. Apply the concepts of variable and fixed costs to Netflix for informing its output decisions. For instance, analyze how different kinds of costs (labor, research and development, raw materials) affect Netflix’s level of output.V. Explore the overall market for your firm.a. Discuss the market share of Netflix and its top competitors by providing details on current percentages for each firm and describing the trend over time. You might consider presenting the data graphically.b. Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on Netflix’s future in the market.c. Describe the market structure for Netflix, and analyze how this affects Netflix’s ability to influence the market.VI. Recommendationa. Develop a recommendation for how Netflix can manage its future production by synthesizing the data presented.b. Suggest how Netflix position within the market and among its competitors will allow it to take your recommended action.c. Describe how Netflix can sustain its success going forward by evaluating the findings from demand trends and price elasticity.19/01/202015businessfinance