MIcro economics

Question

Your company is considering the implications of the coronavirus recession and requires you to produce an academically credible report (i.e. including references etc) on the potential economic repercussions in terms of the likely business environment it will face in relation to BOTH of the following issues:

Question 1:

Explain how demand for the firm’s luxury products will change during a recession. Suggest how the company may respond to these demand changes. (50 marks)

Question 2:

As a company within an oligopolistic market explain how the business is likely to remain profitable. (50 marks)

USE ACADEMIC REPORTS USING HARVARD EFERCING SYSTEMS UK VOCAB PLEASE USE MICROECONOMICS INFORMATION

Week 1 – Module overview & basic notions of economics Week 2 – Theory of Demand Week 3 – Theory of Supply in the short-run Week 5 – Theory of Supply in the long-run Week 6 – Markets: Supply and Demand Week 7 – Perfect Competition and Monopoly Week 8 – Monopolistic Competition & Oligopoly Week 9 – Growth Strategies & Alternative theories of the firm Week 10 – Market Failure & Government Intervention I Week 11 – Market Failure & Government Intervention II A total of 2000

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