Apply and discuss relevant economic concepts and tools with supporting data to solve this real-life imitating simulation. Include also a one-page executive summary for the business plan with assumptions and the goal set, based on the market conditions examined by you.

Course: Managerial Economics Key objective: discovering zero economic profit in a small-business operating in the perfect competition of market structure. Setting: As a manager and an entrepreneur, you will face a new challenge – business venture structured on the theory of the firm. You are opening a restaurant in your selected town in the State […]

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