Mrs. Acres / Strayer 1 Economics of Mrs. Acres Pies Monopolistic Competition Bus 508 Mrs. Acres / Strayer 2 Economics of Mrs. Acres Pies / Strayer University – Monopolistic Competition Introduction The first part
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titled “Mrs. Acres Homemade Pies” at the end of Chapter 1. Shelly Acres, a founder of the company, faces the dilemma in producing homemade pies. Mrs. Acres Homemade Pies struggles to keep up with demand. Question 1: Discuss What Will Happen to Supply, Demand and Price in the Short Term. Supply is a various amount of product that producers are willing or are able to produce for selling at different prices at a specific time. In our case supply is an amount of pies Shelly Acres’ company, Mrs. Acres
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Introduction In this paper, I will discuss two types of businesses, homemade pies and soft drinks. Mrs. Acres Homemade Pies is small business that produces specialty pies to local supermarkets and select family restaurants. This company is growing rapidly in profits and employees (Ferrell, 2009). I am going to analyze the supply and demand for this company along with pointing out challenges Mrs. Acres should consider in managing the growth of her business. The next business that I
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Business Enterprise: BUS508 Professor: George H. Barbosa, PH.D 10/27/2009 ASSESSMENT #1.1 Introduction The paper responds to the questions posed in section titled “Mrs. Acres Homemade Pies” at the end of Chapter 1. Shelly Acres, a founder of the company, faces the dilemma in producing homemade pies. Mrs. Acres Homemade Pies struggles to keep up with demand. Question 1: Discuss What Will Happen to Supply, Demand and Price in the Short Term
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and price in the short term. The impact of supply in the short term for Mrs. Acres Homemade Pies if Shelly does not hire more staff or expand her current production will be she will not be able to keep up the amount of orders, demand, which she is currently receiving for her product. This is not necessarily a bad situation for the company to be experiencing. As the demand for the product increases Mrs. Acres Homemade Pies will be able to raise the price of the product to also offset the cost of
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situation of Mrs. Acres Homemade Pies (p.30) and using the economic concepts of supply and demand, explain: Discuss what you think will happen to the supply, demand, and price of the product in the short-term: Upon reviewing Mrs. Acres’ situation on page 30, there is a limited amount of information given. However, with the information we do know, Mrs. Acres can currently produce 8,000 pies a month with a full-time staff of 4 employees. In this circumstance, the quantity Mrs. Acres is able
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Introduction (Background of Mrs. Acres Pies) Mrs. Acres Homemade Pies derived from Shelly Acres whose grandmother gave her a family recipe for making pies. Shelly Acres loved to cook so she decided to start her own business called Mrs. Acres Homemade pies. The company produced specialty pies and sold them in local supermarkets and selected family restaurants. In the first six months Shelly Acres and three part time employees sold 2,000 pies for $4.50 each, netting $1.50 profit per pie. The business
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in the short-term. The supply of the pies is based on the demand—the idea that if the price of doing something goes up, then people will want to consume less of it, and vice versa. The ‘something’ has to be good and not bad. Weeds will constantly go up in supply and continue to grow, but nobody wants them, and therefore the supply means nothing. The quantity demanded equals the quantity supplied. In the case of Mrs. Acres Homemade Pies, the supply of pies will increase because the number of consumers
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Mrs. Acres Homemade Pies Business 508 Professor Jack McCaffery Summer 2010 Rosie Wright BUS508 Assignment #1 1. Choose your company or service for your business proposal. It is not to be a franchise (McDonald’s). I would like to complete my business proposal on the company I work for; the name of the company is “Campus Crest Communities”. Campus Crest builds student housing across the United States. Their corporate office is located in South Park, they have 29 properties. 2.
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ECONOMICS AND ETHICAL ISSUES Economics and Ethical Issues Given the business situation of Mrs. Acres Homemade Pies and using the economic concepts of supply and demand, explain * Discuss what you think will happen to the supply, demand and price of the product in the short-term; * Discuss what you think will happen to the supply, demand and price of the product in the long-term. * Explain why you think supply, demand or equilibrium price will be different, if at all¸ in the
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