This paper circulates around the core theme of To assess your ability to evaluate a company’s data to determine its profit maximization point. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Purpose:
To assess your ability to evaluate a company’s data to determine its profit maximization point.
Overview:
The Excel-based assignments examine the use of data in business decision making. In this assignment you are asked to determine the profit maximization point in two scenarios:
1) Perfect competition; and
2) Less-than-perfect competition.
Action Items:
- Your instructor will provide values for the following:
- Unit price in perfect competition
- Equation for total cost under perfect competition
- Equation for unit price under less-than-perfect competition
- Calculate Marginal Revenue and Marginal Cost and determine the profit maximizing output for a firm under the two scenarios.
- Examine the two charts that will appear on the Excel spreadsheet after you input the data.
- Write a 1-page business brief addressing the following: describing the differences between the scenarios. Include answers for the following questions:
- Describe the differences between the scenarios.
- Explain the source of the difference between the two scenarios.
Comment on the impact on the market and economic agents when the competition is changed from perfect to less-than-perfect competition.
