ECO 550 Assignment 2 Operations DecisionClick this link to get the tutorial:http://homeworkfox.com/tutorials/economics/12858/eco-550-assignment-2-operations-decision/Assignment 2 "Operations Decision"Assume you have been hired as a managing consultant by a company to offer some advice thatwill help it make a decision as to whether it should shut down completely or continue itsoperations. It currently uses 100 workers to produce 6,000 units of output per month (working 20days / month). The daily wage (per worker) is $70, and the price of the firms output is $32. Thecost of other variable inputs is $2,000 per day. You are told that the firms fixed cost is “highenough” so that the firms total costs exceed its total revenue. The marginal cost of the last unit is$30. (Ch 7 & 8 to solve)This assignment allows you to determine the specific details about this fictitious company inorder to conduct an environmental scan of this company.Write a three to four (4-5) page paper in which you:Briefly describe the details of the fictitious business that you created for this assignment. Assessthe current environmental scan factors that are relevant to the decision making process.Determine the factors that will have the greatest impact on plant operations and management’sdecision to continue or discontinue operations. Provide a rationale for your determination.Evaluate the financial performance of the company using the information provided in thescenario. Consider all the key drivers of performance, such as company profit or loss for both theshort term and long term and how each factor influences managerial decisions. Be sure to showthe calculations that helped you reach your conclusions. Recommend how the company canimprove its profitability to deliver more value to its stakeholders. Then, develop a brief plan toimplement the recommendations. Assess the circumstances in which the company shoulddiscontinue operations and how management should react when confronted with thesecircumstances. Provide a rationale with your response. Use at least (4) high-quality academicresources in this assignment. Note: Wikipedia and other Websites do not qualify as academicresources.Your assignment must follow these formatting requirements:Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on allsides; citations and references must follow APA or school-specific format. Check with yourprofessor for any additional instructions. Include a cover page containing the title of theassignment, the student’s name, the professor’s name, the course title, and the date. The coverpage and the reference page are not included in the required assignment page length.