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Select a local business you are familiar with and share with your group a LONG RUN decision they have made within the last 2 years.
Select a local business you are familiar with and share with your group a LONG RUN decision they have made within the last 2 years. Note that you are welcome to choose a business that is no longer in business, if you wish. Include the following in your post:
- Name of the business and where they are located
- Description of the business - what they sell
- Identify a LONG-RUN decision they have made in the last 2 years
- Explain why this is a long-run decision
- Explain how this long-run decision affected their short-run production capacity and short-run costs immediately after the long-run decision went into effect (give some examples of the short-run costs that were affected)
- Given your familiarity with the business, explain why you think the company made this long-run decision. It doesn't matter if your speculation is the true reason or not - just ensure that it would justify making such a long-run decision
Can you give me some example?
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