n the Week 1 Discussion (also known as a small business scenario), you develop a specific business good or service. You should use this specific good or service for all of the remaining weeks, please do not change your good or service. ( Service is a Nail Salon ) If the market for your good were to suddenly become perfectly competitive. Indicate what happens to the firm’s demand curve. Describe the perfectly competitive equilibrium price and quantity. Discuss the prospects for your small business in the long run.
n the Week 1 Discussion (also known as a small business scenario), you develop a specific business good or service. You should use this specific good or service for all of the remaining weeks, please do not change your good or service. ( Service is a Nail Salon ) If the market for your good were to suddenly become perfectly competitive. Indicate what happens to the firm’s demand curve. Describe the perfectly competitive equilibrium price and quantity. Discuss the prospects for your small business in the long run.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Economics
In the Week 1 Discussion (also known as a small business scenario), you develop a specific business good or service. You should use this specific good or service for all of the remaining weeks, please do not change your good or service. ( Service is a Nail Salon )
If the market for your good were to suddenly become
- Indicate what happens to the firm’s demand curve.
- Describe the perfectly competitive
equilibrium price and quantity. - Discuss the prospects for your small business in the long run.
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