Supply and Demand of your firm (McDonalds)
In this SLP assignment, we will examine the supply and demand of the good or service that your firm (McDonald’s) produces. Write a 2-3 page essay on the following issues:
- Consider what your firm produces. What are some things that would change the demand for your product?
- How quantity does demanded change?
- What are some things that would affect changes in supply?
- What if the government raised the minimum wage. How would this policy effect your firm?
Do some research on your own and explain the advantages and disadvantages to price controls (as in question 3). Be sure to cite your resources. In general, do you think the government should intervene in the market? Examples include minimum wage, rent control, etc.
SLP Assignment Expectations:
Use concepts from the modular background readings as well as any good quality resources you can find from the cyberlibrary or other internet search engines. Please be sure to cite all sources within the text and a reference list at the end of the paper.
- Length: 2-3 pages double spaced and typed
- The following items will be assessed in particular:
- Your ability to explain the difference between changes in demand and quantity demand using an example of your choice.
- Some in-text references to the modular background readings (APA formatting not required).
The essay should address each element of the assignment. Remember to support your answers with solid references.
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