*Question 1:Your first task is to determine whether your firm is in a competitive industry.*

*Based on the following demand function for the firm’s product, what would you answer?*

*Q = 50,000 – 25*P*

Q = 50,000 – 25*P | Q = 50,000 – 25*P | |||

Q = 50,000 – 25*1100 | P = 2000 – Q / 25 | |||

Q = 50,000 – 27,500 | P = 2000 – 22500 / 25 | |||

Q =22, 500 | P = 2000 – 900 | |||

P =1,100 |

*Q is the amount produced and P is the price.*

*Before starting your calculations, review materials on industry structure demands and prices and price, cost, and profit analysis.*

*Submit your Competitive Industry Report and Calculations to the dropbox below. Be sure to show your calculations in Excel and provide a narrative analysis in PowerPoint. Your narrative analysis should summarize the results of your analysis and make recommendations for the benefit of company.*

*Before you submit your assignment, review the competencies below, which your instructor will use to evaluate your work. A good practice would be to use each competency as a self-check to confirm you have incorporated all of them in your work.*

*3.1 Identify numerical or mathematical information that is relevant in a problem or situation.**3.2 Employ mathematical or statistical operations and data analysis techniques to arrive at a correct or optimal solution.**3.3 Analyze mathematical or statistical information, or the results of quantitative inquiry and manipulation of data.**3.4 Employ software applications and analytic tools to analyze, visualize, and present data to inform decision-making.**10.1 Apply relevant microeconomics principles to support strategic decisions for the organization.**10.2 Analyze financial statements to evaluate and optimize organizational performance.*