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Assignment 2: Operations Decision

Assignment 2: Operations Decision> Due Week 6 and worth 300 points>> Using the regression results and the other computations from Assignment 1,>> determine the market structure in which this frozen, low-calorie> microwavable> food company now operates.> [In assignment #1, the company estimated a demand curve and used a marginal>> cost curve as its supply curve. You determined the equilibrium in the market>> where P =MC [or Qs = Qd]. You calculated the various elasticities using the>> estimated demand at its current price of 500 cents. While not required, if> you> look at the own price elasticity at the equilibrium price and quantity> solved> for in Assignment #1 you will notice a problem for the firm if it thinks it> is> operating in a competitive market.> Now that you know that the firm faces a downward sloping demand curve and> that> it has pricing power, you are being asked to rethink how the firm should> behave> in the market as it actually used its pricing power to determine the profit>> maximizing price and output in this assignment.> Use the Internet to research two (2) leading competitors in the low-calorie>> microwavable food industry, and take note of their pricing strategies,> profitability, and their relationships within this industry (within the USA> and> worldwide). Use the IBIS Report for the Frozen Food Production Industry (SIC>> Code 31141) to be provided by your instructor.>> Write a six to eight (6-8) page paper in which you:> 1. Outline a plan that will assess the impact of the market structure/cost> data> based on the activity in the first assignment for the company’s operations.> Use> a supply curve of the following form to reexamine your conclusions from the>> first assignment: Qs = -7909.89 +79.0989P [OR MC = 100 + 0.01264Q]. This new>> supply curve gives you the same equilibrium price and quantity as before,> but is> based on the firm’s marginal cost curve and its behavior in Assignment #1.> Further assume that the estimate of the firm’s AVC = 100 + 0.009Q and that> VC/TC> =0.71 always [implying that FC/TC = 0.289]. These are the industry average> estimates from the IBIS report for this industry.> 2. Suppose the business operations have now changed from the market> structure> analyzed in the activities required for the first assignment due to this new>> data about costs. Determine two (2) likely factors that might have caused> the> changed behavior. Predict the primary manner in which this change would> likely> impact business decisions in the new market environment.> 3. Analyze the major short-run and long-run production and cost functions> implied by this new cost data for the frozen, low-calorie microwaveable food>> company. Use the information contained in the IBIS report. Suggest> substantive> ways in which the frozen, low-calorie food company may use this information> in> order to make decisions in both the short-run and the long run.> 4. Determine the possible circumstances under which the company should> discontinue operations. While no specific fixed or total cost data are> provided,> use the newly provided cost data above and your knowledge from the textbook> on> the relation of fixed and variable costs to revenue to develop estimates> that> might suggest key actions that management should take in order to confront> these> circumstances. Provide a rationale for your response.> 5. Suggest one (1) pricing policy that will enable your frozen, low-calorie>> microwavable food company to maximize profits. Provide a rationale for your>> suggestion that will involve comparison of the first assignments two> possible> price and quantity pairs with the new optimum presented here in Assignment> #2> 6. Outline a plan, [based on the original information provided in the first>> assignment along with the IBIS report industry cost data for the firm], that> the> company could use in order to evaluate its financial performance. Consider> all> the key drivers of performance, such as company profit or loss for both the>> short term and long term, and the fundamental manner in which each factor> influences managerial decisions.> 7. Recommend two (2) actions that the company could take in order to improve> its> profitability and deliver more value to its stakeholders in line with the> recent> history and forecast future behavior for the Frozen Food Production Industry>> [SIC Code 31141] as outlined in the IBIS report. Outline, in brief, a plan> to> implement your recommendations.> 8. Use at least five (5) quality academic resources in this assignment.> Note:> Wikipedia does not qualify as an academic resource.>> Your assignment must follow these formatting requirements:> * Be typed, double spaced, using Times New Roman font (size 12), with> one-inch> margins on all sides; citations and references must follow APA or> school-specific format. Check with your professor for any additional> instructions.> * Include a cover page containing the title of the assignment, the student’s>> name, the professor’s name, the course title, and the date. The cover page> and> the reference page are not included in the required assignment page length.

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