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In this Assignment, you will elaborate price elasticity of demand and supply in the short run and long run. You will evaluate factors that change equilibrium wage rate and employment level. Moreover, you will calculate total revenue product and marginal revenue product, and compare them with total cost and marginal cost in order to figure out optimal quantity of labor that should be hired to maximize profit.
Instructions: Read Chapter 3. Go to Chapter 3 pages 90–91 and read the “Role Play Case,” then respond to the checklist items.
Source: Castleberry, S. B., & Tanner, J. F. (2018). Selling: Building partnerships (10th ed.). New York, NY: McGraw-Hill.
- Create a Microsoft® PowerPoint® presentation that you will use to present yourself to the customer. Begin by introducing yourself and your (hypothetical) company.
- Create a list of questions to ask the customer to understand the company’s buying process.
- Assume you received the answers to the questions you asked. Outline the way the account’s organization is most likely structured. You may research a company in the same industry to provide insight into the way this company may typically be structured.
- Based on material in the chapter, determine the (most likely) roles in the account’s buying center.
You may select one of the three accounts shown below:
a. Asset Recovery Management (ARM),
b. Fire Suppression Services (FSS), or
c. Mizzen Industries.
Your PowerPoint presentation should include approximately 4–6 slides (include additional title and reference slides). You will need to use the text for this class and/or other research to support your opinions. Be sure to include citations and a reference list.