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ECO/561 Week 4 Business Proposal You will apply economic principles presented in Weeks One through Three in this week's assignment. Your assignment will be reviewed by your peers and by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week six. Select a new, realistic good or service for an existing industry. Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles. You need to create hypothetical data, based on similar real world products to estimate fixed and variable costs. Required Elements: Identify market structure Identify elasticity of the product Include rationale for the following questions: How will pricing relate to elasticity of your product? How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost an

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Running Head: Business ProposalTitle:Course Name:Topic Name:Professors Name:Student Name:Date:Running Head: Business ProposalIntroductionA business plan is this most organized and detailed tool in determining the feasibility of abusiness. It referred to as strategic plans, offer several financial and non-financial advantages tothe organizations that use them (Furlong C B, 1993). American health care system relies greatlyon private health insurance, which is the major source of treatment for most US citizens. In UShealth sector is characterized by a mix of private and public provision and funding; as such, it isnot managed by a single philosophy (Furlong C B, 1993). This research paper is relation tohealth insurance industry. In this research paper the author shows an analysis section of abusiness proposal including the market structure and the elasticity of demand for the good orservice along with how pricing relate to elasticity of the product and how pricing decisions affectmarginal cost and marginal revenue. Also this paper shows suggested non-pricing strategies andwhat non-pricing strategies use to increase barriers to entry and how could changes in businessoperations alter the mix of fixed and variable costs.Market StructureMarket structure mainly refers to the level and nature of competition in the market for goods andservices. When a market is commonly jointed between a few firms, it is called highlycompetitive (Herring Bradley, 2005). Kai

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