a. Imagine that you have invested $1 million in a McDonald's franchise restaurant. The investment includes expenses for land, buildings, and franchise fees. i. Discuss the explicit costs and implicit costs of this franchise operation. ii. Predict how the output of your franchise will change as you hire more labor. iii. Discuss how you would respond to the higher labor costs when the minimum wage has raised your franchise's labor costs. 2. Read and post responses to at least two of your classmates' postings, as well as all follow-up instructor questions directed to you, by the end of flan ulnrl/rhnn