For the attached business review, the paper needs to be updated with peer review and instructor review comments. And Also, the paper needs to be revised with Required Elements and the comments in the “Revise your Week Four Business Proposal” paragraph.
The new paper should include the below comments and also the the points below-
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COMMENTS on the ORIGINAL Paper (attached) from the Instructor
Paper does not define price elasticity of demand and does not analyze total revenue test of elasticity of demand by showing pricing strategy accordingly. APA-format for citations was not followed
BELOW are PEER Review Comments:
Comments on “Assumptions regarding market structure and elasticity”
Paper indicated “The price elasticity of demand is either elasticity or inelastic in the Monopolistic markets.” it is not perfectly elastic. I believe with it having many firms which are differentiated products it has elasticity.
Comments on Chosen method to increase revenue
Paper referenced “the government can be able to affect the pricing the respective market structures” but did not identify anything specific for “the “Thomas Money Service Inc.” and “Will Bury’s Price Elasticity”
Comments on Use of concepts of marginal cost and marginal revenue to maximize profit
Saw reference for equation and government’s intervention in the pricing policies of various market structures is diverse
Comments on Suggested mix of pricing and nonpricing strategies
Has heading but no suggested mix for companies used.
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Resource: Business Proposal and Peer Review feedback.
Revise your Week Four business proposal using the feedback provided by your peers and facilitator as necessary. In addition to your week four paper, the second part of your paper will use the revised information to recommend appropriate pricing and non-pricing strategies for your new or existing good or service based on the projected economy’s stage in the business cycle and the prevailing projected economic conditions for one or more macroeconomic factors. Explain the evidence that supports these recommendations.
Required Elements:
- Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service.
- Describe the local economy’s stage in the business cycle.
- Describe how current credit market conditions affect your planning or operating decision for your good or service.
- No more than 2100 words (in addition to the 1400 word paper completed in week four, an additional three pages at most is needed)Your assignment is consistent with APA guidelines .All written assignmentsmust adhere to APA style and MUST be submitted to Plagiarism Checker (Turnitin)
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