Competitive Industry Report and Calculations

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Presentation transcript:

Competitive Industry Report and Calculations Company for Question 1

Overview Discuss the general overview of Question 1 Produce the demand product Discuss the general overview of Question 1 Produce the demand product

Question 1 Question 1: Your first task is to determine whether your firm is in a competitive industry.   Based on the following demand function for the firm's product, what would you answer? Q = 50,000 – 25*P Q is the amount produced and P is the price. Question 1: Your first task is to determine whether your firm is in a competitive industry.   Based on the following demand function for the firm's product, what would you answer? Q = 50,000 – 25*P Q is the amount produced and P is the price.

Demand Product Competitive Industry Report and Calculations Q P Amount Produced Q is the amount produced 50,000 $2,000.00 P is the Price Quantity to be produced is 25 Calculations Below: 50,000 divided by 25 equals 2,000, therefore the price is $2,000.00 25 times $2,000.00 equals $50,000.00 Quantity is 50,000 50,000 times $50,000 equals 2,500,000,000

Conclusion There would be a demand product need of $2,500,000,00.00

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