What i use in every day life has a story of its own

What i use in every day life has a story of its own   Paper details: Feel free to pick any product you use daily but make it easy so maybe a phone brand , TV brand etc..   Introduction 1. Select a company whose product(s) you use in your daily life or would like to explore in greater detail. You might want to do some preliminary research before making this decision. You may choose any firm you wish, so long as their information is publicly available and they are known to the average person. Keep in mind that you should choose a firm that can be sufficiently analyzed within the scope of this project. Then, introduce the following: a. Name and brief description of the firm Body 2. Describe in detail the company’s product line in terms of: a. Product description and usage b. Factors that determine the demand for products and detail the future outlook of the demand curve c. Factors that determine the supply of the products and detail the future outlook of the supply curve d. Available substitutes for the product and demand for the same e. Available complements for the product and demand for the same f. Is demand for the product elastic or inelastic in the short run? In the long run? This will require detailed analysis. g. Is the firm’s production capital-intensive or labor-intensive? Why is technology important in producing this product? Is there technology that can update or replace the current usage? Note that this set of questions requires varying levels of detail. For example, question 2F (demand elastic or inelastic) has multiple factors for analysis and response and will therefore require a lengthy explanation. You should also include and explain any formulas you think would support your analysis. 3. In which of the four market structures does this firm operate? The four structures are: perfect competition, monopolies, oligopolies, and monopolistic competition. Describe the attributes of the firm’s market that show why that is the relevant market structure. Conclusion 4. In your opinion, what are the long-term prospects for the firm? What changes do you think should be made in order to become even more profitable? You should explain how the aforementioned issues addressed in the body of your essay support your understanding of the company’s future prospects, and how they support your suggestions for how the company may be made more profitable in the future. Be sure to defend your assessment with relevant research.