The purpose of this milestone is for students to explore the various costs their firm faces and to describe their firmâ€™s market. Using the concepts and tools developed in Modules Four and Five, students will analyze the fixed and variable costs of their firm, how those costs have changed over time, and how those changes have impacted their firmâ€™s overall health and sustainability. In analyzing their firmâ€™s market, students will detail the extent of their firmâ€™s market power and their firmâ€™s ability to influence the market. Students will also describe major trends in the market, specifically concerning new products, technologies, and new entrants. Students can further determine the future health of their firm to inform their final recommendations by examining their firmâ€™s place within the market.
Prompt: Submit a draft of the Costs of Production (Section IV), Overall Market (Section V), and Recommendation (Section VI) of your research paper, including all critical elements listed below. You will review your firmâ€™s financial reports and other relevant data sources to collect and analyze cost information for your firm over the past five or so years. Using real data and the economic tools developed in Module Four, you will analyze your firmâ€™s profitability and how costs impact its growth. Additionally, you will find data on your firmâ€™s competitors in order to detail your firmâ€™s place within the market currently and over the past five or so years. Lastly, you will develop a recommendation for how the firm can manage its future production.