Finish up paper. The paper only needs one section done. Needs to be 1-2 pages long. Below I have attached the guideline and rubric. Once the question is assigned send me a message and I will tell you what the paper is about.
eco201_milestone_t333_guide__1_.docx

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Running head: SHORT TITLE OF PAPER (<= 50 CHARACTERS) Title Milestone Three Author Author Affiliation 1 SHORT TITLE OF PAPER 2 Costs of Production This section of your paper has two rubric elements and will be between one and two pages long, depending on your use of graphs or tables. The first element in this section asks you to analyze the various costs your company faces, their trends over time, and how they have impacted the company’s profitability. To gather data on this, you will want to go to your company’s annual report and look at its income statement. Here is a helpful video to help you understand how to read an income statement. You will notice that there are two sections that deal with costs. The first is Cost of Goods Sold (COGS), which is essentially the cost of the inputs, such as raw material and direct labor. For clothing manufacturer, that would include the cost of the cloth; for an auto manufacturer, it would include the cost of the steel. The second is the section called Expenses, and these are the costs beyond buying the raw materials. These include things like rent, insurance, and overhead and other indirect expenses. For this section, you should include: • Past 5 years (or more) of COGS, in a table or graph • Past 5 years (or more) of operating expenses, in a table or graph (can be combined with table/graph of COGS) • Explanation of any observed trends in either (e.g., why is COGS increasing?) such as: o Pricing history of major inputs, such as cotton for a clothing company, as applicable o Change in how goods/services are produced—for instance, a change in major input such as moving from steel to aluminum • Your analysis of how changes in either or both of these affected profitability—remember that accounting profit, which is what we are looking at here, is simply Revenue – Costs SHORT TITLE OF PAPER 3 The next rubric element in this section asks you to apply the concepts of variable and fixed costs to company for informing its output decisions. Chapter 11 examines the differences between variable and fixed costs, and you can review in this video the details about fixed and variable costs and how they apply to business output decisions. In this video, our textbook presents an example that shows how costs are distinguished between fixed and variable. This example will help shed light on how you can make similar distinctions for your company. Also, you have already done some of this work in your previous rubric element. There you presented data on COGS and operating expenses. Generally, variable costs will show up in COGS, and fixed costs will show up in operating expenses, so this gives you a head start. You can then use the data and your knowledge of fixed, variable, and total costs from Chapter 11 to explain how your company will base its production level on the costs it faces. Overall Market In this section, you will be examining three different aspects of the overall market in which your company operates. By overall market, we mean the market selling the product or service. For instance, there is a market for mobile phones or a market for jeans. Whatever product your company sells determines what market it is in. Note that the term market here does not refer to the stock market. In total, this section should be one to two pages long. The first rubric element of this section asks you to discuss the market share for your company and its top competitors by providing details on current percentages for each company and describing the trend over time. The best way to show this would be to use some type of graph or table to show for the past few years (5 years would show any trends, if you can find the data going that far back). To do this, you will need to find data on the market as a whole—for instance, if the market is computers, you will need to find the total value of computer SHORT TITLE OF PAPER 4 sales in the United States. From there, you can determine that share (the percentage) your company and the other top companies get from that total. For an example of how to do this, check out this video on calculating market shares. You may also find that industry magazines or other market researchers have compiled this information, so do look for those resources as well to make your data collection easier. Once you have the data, you will want to see how your company has been doing. Having 80% of the market might sound great, but if you see that the company had 90% of the market 2 years ago, then we have a different story. This is why showing the trend is so important. The second rubric element in this section asks you to analyze the barriers to entry for your firm. This concept is explored in detail in Chapter 14, and you can review in this video the types of barriers to entry and their impact on the market. For the market your company operates in, you will detail the barriers to entry—some markets have more than others, and some barriers are weaker than others. Your specific situation will allow you to explain how the existing barriers will either help insulate your company from competition or allow for competitors to break into the market. The last rubric element in this section asks you to describe the market structure for your firm and analyze how this affects the firm’s ability to influence the market. Recall from Chapter 12 that there are four different market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. You need to categorize your company’s market into one of these four. Use the criteria listed in Table 12.1 on page 392 of the textbook and any supporting evidence you have presented so far. You can also use the four-firm concentration ratio and/or the Herfindahl-Hirschman Index (HHI) to support your conclusion. Here is a video showing you how to calculate both the four-firm concentration and the HHI*, and you can also review this on SHORT TITLE OF PAPER 5 pages 453 and 497, respectively. Once you have determined the market structure, you can then analyze your company’s ability to influence the whole market based on this and its position within the market. *this example uses the top 50 firms—you will not necessarily have to use that many. Recommendation This last section of your paper contains three rubric elements, where you will provide your recommendations for future actions based on the three different criteria. This section will be about one page long. In the first element, you will develop a recommendation for how the firm can manage its future production by synthesizing the data presented. This is essentially asking you to look at the data and analysis done in the supply and costs sections and make a suggestion for how the company should produce in the future. The determinants of supply and specific cost trends that the company faces will determine what you suggest for its production moving forward, in terms of quantity and types of products. The second element asks you to suggest how the firm’s position within the market and among its competitors will allow it to take the recommended action. This follows closely from your last element in the Overall Market section, and you should use the evidence presented in that section to inform your recommendation in this section. Specifically, consider how the firm’s market power would allow it to make the suggested changes to production that you mention above. You should also include advice for how your firm can become stronger within its market. The last rubric element asks you to describe how the firm can sustain its success going forward by evaluating findings from demand trends and price elasticity. Here you will revisit your analysis in the demand and price elasticity section to further provide suggestions for how your company can stay profitable. From pricing decisions to responding to changes in SHORT TITLE OF PAPER 6 demand, your suggestions here should reflect your findings in those earlier sections. Be sure to include specific ideas for how the firm can remain successful, like new products to offer based on changing tastes, or a different pricing strategy to remain competitive. Your ideas should of course align with the rest of your analysis and the microeconomic concepts. Citations This is not a particular section of your paper, but rather guidance on how to use APA format in-text citations throughout your paper. Source material must be documented in the body of the paper by citing the authors and dates of the sources. The full source citation will appear in the list of references that follows the body of the paper (see last page). When the names of the authors of a source are part of the formal structure of the sentence, the year of the publication appears in parenthesis following the identification of the authors, for example, Smith (2001). When the authors of a source are not part of the formal structure of the sentence, both the authors and years of publication appear in parentheses, separated by semicolons, for example (Smith & Jones, 2001; Anderson, Charles, & Johnson, 2003). When a source that has three, four, or five authors is cited, all authors are included the first time the source is cited. When that source is cited again, the first author’s surname and “et al.” are used. See the example in the following paragraph. Use of this standard APA style “will result in a favorable impression on your instructor” (Smith, 2001). This was affirmed again in 2003 by Professor Anderson (Anderson, Charles, & Johnson, 2003). When a source that has two authors is cited, both authors are cited every time. If there are six or more authors to be cited, use the first author’s surname and “et al.” the first and each subsequent time it is cited. When a direct quotation is used, always include the author, year, and SHORT TITLE OF PAPER 7 page number as part of the citation. A quotation of fewer than 40 words should be enclosed in double quotation marks and should be incorporated into the formal structure of the sentence. A longer quote of 40 or more words should appear (without quotation marks) in block format with each line indented five spaces from the left margin. SHORT TITLE OF PAPER 8 References Entries are organized alphabetically by surnames of first authors and are formatted with a hanging indent. Most reference entries have three components: 1. Authors: Authors are listed in the same order as specified in the source, using surnames and initials. Commas separate all authors. When there are seven or more authors, list the first six and then include an ellipsis ( . . . ), followed by the final author. If no author is identified, the title of the document begins the reference. 2. Year of Publication: Include the year in parentheses following the author name(s), with a period following the closing parenthesis. If no publication date is identified, use “n.d.” in parentheses following the author name(s). 3. Source Reference: Include title, journal, volume, pages (for journal article) or title, city of publication, publisher (for book). Here is a link to a video to walk you through creating a reference list in APA format. ... Purchase answer to see full attachment