Profits and Your Franchise Firm
In this module, we have explored the costs of production which have a direct impact on the profit of your firm. Write a 2- to 3-page essay that addresses the following questions.
- Give an example of indivisible inputs for your firm.
- Discuss the characteristics of a perfectly competitive firm. Does your franchise firm share any of these same traits? Explain.
- In the long run, what happens to economic profits (assuming your firm is competitive)? Explain.
SLP Assignment Expectations
Use concepts from the modular background readings as well as any good-quality resources you can find. Please be sure to cite all sources within the text and a reference list at the end of the paper.
Length: 2â€“3 pages double-spaced and typed.
The following items will be assessed in particular:
- Your ability to examine inputs of a particular firm.
- Your ability to understand a perfectly competitive firm.
- Some in-text references to the modular background readings (APA formatting not required).
- The essay should address each element of the assignment. Remember to support your answers with solid references.