Every day, millions of economic choices are made by people—from what brand of soap to buy to how many employees to hire for a factory. Microeconomics provides us with the tools, models, and concepts to better understand individual choices in the marketplace and how resource allocation is determined at the micro level. The decisions made by individuals and households impact the market and influence decisions made by firms. Firms use these tools as a way to determine pricing, output, and profit maximization. As a student of economics, you can use the microeconomic principles to gain an understanding of how firms and individuals make decisions and also to make your own conclusions about actions we can take to improve those decisions.Now, imagine that you are a consultant to the firm of your choice. The firm has hired you to advise it on how it can ensure its future success as a company in its current market. To do this, you will write a research paper analyzing market and business data to explain how the core microeconomic principles impact the sustainability of the firm and what actions it can take to ensure success.
Specifically the following critical elements must be addressed for this introduction paper:
I.Using the publicly traded company operating in the U.S. market that is currently in business.Write a one paper that includes the following elements for your chosen firm:
a)Outline the purpose of your final project research paper and explain how it will inform your conclusion.
b)Summarize the history of your chosen firm and provide an overview for what it does and what goods/services it sells.
The company is Nike
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