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Assignment:
In 7 to 10 pages:
The project will be as follows:
You have been hired as a consultant by a venture capital firm. They want to start a business. They have 50 million dollars to invest but they have no idea what they want to invest in. They also have no understanding of microeconomics. You will create a 7 to 10 page report offering advice on possible companies to start. Include in your report should be a discussion of the following economic concepts and how they should
influence the investment decision:
supply and demand- how markets work
what determines demand-income, tastes and preferences, substitutes and compliments.....
elasticity
consumers maximizing utility
consumer behavior
costs -fixed and variable
capital and labor inputs
market structure- perfect competition, monopolistic competition, oligopoly, monopoly and anything else you think they should know.
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