Microeconomics Final

ECO-112-GS

Microeconomics

Final Project

1. Select two companies whose product(s) you use in your daily life. You may choose any firms you wish, as long as their information is publicly available (as to their products and financial information) and they are known to the average person.

2. Describe, in detail, each company's product line in terms of:

a. Product description and usage

b. Factors that determine the demand for the products

c. Factors that determine the supply of the products

d. Available substitutes for the product

e. Available complements for the product

f. Is demand for the product elastic or inelastic in the short run? In the long run?

g. Is the firm's production capital-intensive or labor-intensive? How important is technology in the producing the product? Why?

3. In which of the four market structures does each firm operate? Describe the attributes of the firm's market that show why that is the relevant market structure.

4. What do you think are the long term prospects for the product? Why?

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Sprint Nextel, a service provider of mobile voice, data and web services over a nationwide wireless network. It also provides long-distance voice, internet and data over a landline based network. Their wireless segment also sells accessories, such as carrying cases, hands-free devices, batteries and battery chargers, as well as the handsets and accessories to use their service to agents and other third-party distributors for resale. Consumers use several of these products along with their service they provide to communicate through mobile (cell) phones, laptops, personal computers, video game consoles, televisions and DVD players loaded with apps, Global Positioning Systems, Voice Over Internet Protocol (VOIP), etc…, the list has far too many uses to name the all.

Consumer demand is greatly affected by price, service availability and reliability and the...