This paper circulates around the core theme of why would like it if you could deepen your involvement with this client by applying the concepts of elasticity 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.
This is a Combo Order: Please add 7 slides PPT w. reference and cover page. This project requires the completion of the both tabs in the attached Excel workbook. Steps 1 and 4 have already been completed. Step 2 Create a Supply and Demand Graph The first assignment Frank has given you is to develop an industry analysis through a supply and demand graph. In order to develop the graph, you will need to understand demand, supply, and the demand curve and utility. You should also be able to identify the point of equilibrium. The graph will be used to help the client, ExxonMobil, determine where they stand within the oil and gas industry. Frank has passed along some data he has gathered to help you create a supply and demand graph for the oil and gas industry. This graph will be used as part of a comprehensive analysis to advise the client about optimal production levels. View Franks data and read the instructions on the Supply and Demand Graph worksheet of the Project 1 Excel Workbook, which you will access below. You will use different sheets from this workbook in the subsequent steps of this project. To help ExxonMobil, you must determine what economic model best describes the oil and gas industry. You should also read competition production and pricing decisions, monopoly production and pricing decisions, and price discrimination. Step 3: Analyze Cost, Pricing, Elasticity, and the Production Function In your second week on the job, youre beginning to realize the responsibilities and complexities of your job, and youre glad to have completed the supply and demand graph you created. As you come into work, you see a voicemail from flashing on your office phoneits Frank: Voicemail from Frank Good morning. I just wanted to say you really did a great job developing that supply and demand graph. I would like it if you could deepen your involvement with this client by applying the concepts of elasticity of demand and elasticity of supply to maximize the ExxonMobils profits by solving several cost and revenue functions. These are commonly used in the oil and gas industry and are recognized industry standards. Exxon is concerned about a franchisee store in Fitzhugh, Maryland. The owner is having trouble maintaining profits while managing price changes. Theyd like MCS to offer advice on price cuts for that franchise and determine the individual stations profit maximizing price using the production function. Ill provide with data that describes the gas station franchise operations and competition. You can find this data in the Profit Maximization worksheet of the Project 1 Excel Workbook you used in the last assignment (Step 2). Complete the tables in that file and answer the clients questions about price elasticity of demand, the impact of price cuts on revenue, and the profit maximizing price. The embedded tables show the quantity of gallons of oil sold by the franchise as well as the price per gallon. Youll need to solve for marginal cost (MC), total revenue (TR) and marginal revenue (MR), and profit using the formulas provided in the worksheet. To complete the profit maximization calculations correctly, it is important for you to understand how to calculate average total cost and opportunity cost. Finally, Id like you to calculate the profit maximizing price by using the profit maximization formula. This information will help you determine the appropriate price per gallon of oil to achieve maximum profits for the client. Please reach out if you have any questions. Thanks so much. Access the data and read the instructions within the Profit Maximization worksheet of the Project 1 Excel Workbook to complete this assignment. When you have finished answering the questions, post the workbook to the submission folder located in the final step of this project. Complete this task during Week 2. Step 5: Prepare Executive Summary and PowerPoint Presentation Your busy third week on the job isnt over yet. After a busy morning of ad hoc team meetings, youre greeted in your office with a phone call from Frank. Phone Call from Frank Hi again. Ive got news about our client. ExxonMobil is looking to increase revenue by 10 percent and possibly reduce costs. Im going to need an executive summary based on the analysis youve done for this client so far and your recommendations for ExxonMobils goal of a 10 percent increase in revenue. This executive summary, along with citations for any sources you use, should be about one page long. Please also prepare a brief PowerPoint presentation highlighting your analysis and recommendations. The executive summary and PowerPoint presentation should demonstrate your ability to think critically. This is your chance to be recognized for your knowledge in the accounting and finance field. Thanks again! Post your executive summary and PowerPoint presentation in the submission folder located in the final step of this project. Complete your PowerPoint presentation during Week 3 using this Project 1 PPT Template.