ey Assignment Draft
You are starting your own Internet business. You decide to form
that will sell cookbooks online. Justcookbooks.com is scheduled to
months from today. You estimate that the annual cost of this
business will be as
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Technology (Web design and maintenance)
postage and handling
Inventory of cookbooks
Deliverable Length: 1 graph plus
You must give up your full-time job, which paid $50,000 per
year, and you
worked part-time for half of the year.
The average retail price of the cookbooks will be $30, and their
will be $20.
Assume that the equation for demand is Q = 40,000 – 500P,
Q = the number of cookbooks sold per month
P = the retail price of books.
Show what the demand curve would look like if you sold the
$25 and $35.
Address the following questions:
What is the elasticity of the demand for cookbooks bought this
Is the business worth pursuing so far?
Suppose that you expect to sell about 22,000 cookbooks per
month online, and
assume your overhead, technology, and equipment costs are fixed.
What are your
What are your marginal costs?
What market structure have you entered, and why?
What can you do to guarantee success in this market?
What pricing strategy might you use?
No previous posting. I want Orginal
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