The first step to this project is that you will assume the role of a manager with Ford Motor Company.
- You will start by analyzing your company from the perspective of a manger and identify decisions you would be faced with on a daily basis that pertain to managerial economics.
- In addition, you will identify the products sold and/or services provided by your firm and explain how price and output are determined based upon supply and demand.
- You will analyze the factors that would cause shifts in the supply and/or demand curves and explain how the equilibrium price and quantity will differ and why.
- Finally, you will discuss how elasticity of demand for your firm’s goods and/or services are affected by the elasticity of demand of said goods and/or services.
This assignment must be at least 2 pages in length, and must follow APA formatting guidelines. A minimum of 2 sources are required.