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Demand Estimitatopm

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America has become one of the busiest countries in the world. Each year families are spending less time together; which means that more families are relying on eating out but more on microwaveable foods. Considering the increase in the disposable income, more people are able to afford better lifestyle. However, there has been a change in the styles of cooking in the current markets. With microwaveable food being so popular, the focus is now on how can we make these products healthier. So manufacturers now focus on introducing low calorie microwaveable food into the market. Therefore, increasing sales due to the popularity of these healthy microwaveable choices for consumers.
As previously explained in the first assignment, it was mentioned that the market structure for low calorie microwavable food was competitive. We learned in a perfectly competitive market there are a large number of buyers and sellers, the products sold is also homogeneous in nature. The microwaveable food market consists of many buyers and sellers. Even the goods sold are almost homogeneous. This is an indication for us to know that the market for low calorie microwavable food is perfectly competitive. It is perfectly competitive because (1) there are a large number of manufacturers, (2) many consumers are focused on low calorie quick meals, (3) there are no barriers to entry and exit and (4) the product is homogenous.
Consumers have different varied personalities and lifestyle trends with different products. The consumer behavior is usually determined by age, gender, educational, social and economic background. Manufacturers have become more knowledgeable on health consciousness. They are trying to differentiate their product based on the taste and preferences of the consumers. This will help them gain more popularity in the market. Now that all of the manufacturers are

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