Economic research paper: SouthWest Airlines with analysis and recommendation.

Instruction & Requirements:
A casse study of Southwest, gathering information and data relevant to the firm and its industry and use the core microeconomic principles you have learned in class to analyze the information and make a recommendation for your firm. You will compose a 79-page research paper in which you will analyze the market and business data to explain how the core microeconomic principles impact the sustainability of the firm, and your recommendation will suggest the actions the firm can take to ensure success.

Specifically the following critical elements must be addressed:

I. Introduction

Southwest a publicly traded company operating in the U.S. market that is currently in busines.

a) Outline the purpose of this paper and how it will inform your conclusion.

b) Summarize the history of the firm, and provide an overview for what the firm does and what goods/services it sells.

II. Explore the supply and demand conditions for your firms product.

a) Evaluate trends in demand over time, and explain their impact on the industry and the firm. You should consider including annual sales figures for the product your firm sells.

b) Analyze information and data related to the demand and supply for your firms product(s) to support your recommendation for the firms actions. Remember to include a graphical representation of the data and information used in your analysis.

III. Examine the price elasticity of demand for the product(s) your firm sells.

a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity

of demand for your firms product.

b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your

guide.

c) Assess how the price elasticity of demand impacts the firms pricing decisions and revenue growth.

IV. Examine the costs of production for your firm.

a) Analyze the various costs a firm faces, their trends over time, and how they have impacted your firms profitability.

b) Apply the concepts of variable and fixed costs to your firm for informing its output decisions. For instance, analyze how different kinds of costs

(labor, research and development, raw materials) affect the firms level of output.

V. Explore

a) Discuss the market share of the firm and its top competitors by providing details on current percentages for each firm and describing the trend

over time. You might consider presenting the data graphically.

b) Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on your firms future in the market.

c) Describe the market structure for this firm, and analyze how this affects the firms ability to influence the market.

VI. Recommendation

a) Develop a recommendation for how the firm can manage its future production by synthesizing the data presented.

b) Suggest how the firms position within the market and among its competitors will allow it to take your recommended action.

c) Describe how the firm can sustain its success going forward by evaluating the findings from demand trends and price elasticity.

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