Assume that you are going to start a small business of your own.
Describe the business and, utilizing the concepts of this unit and the earlier units, discuss:
a. what costs you would incur;
b. what competition you might experience;
c. how you would determine the price you would sell your product; and,
d. how much product you would produce?
200 words with reference
Do you think that you could start a company to compete with Microsoft? Why?
What about pizzerias? Why?
What makes a business perfectly competitive? Why and how?
How do you determine price based upon costs and demand?