Discuss the characteristics of a perfectly competitive firm

Reference no: EM13743490

Profits and Your Franchise Firm

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.

Reference no: EM13743490

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