Microeconomics provides us with the tools, models, and concepts to better understand individual choices in themarketplace and how resource allocation is determined at the micro level. The decisions made by individuals and households impact the market and influencedecisions 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 themicroeconomic principles to gain an understanding of how firms and individuals make decisions and also to make your own conclusions about actions we cantake to improve those decisions. Please be sure provide a clear reason for the project at the outset of the paper.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 itscurrent market. To do this, you will write a 7–9-page research paper analyzing market and business data to explain how the core microeconomic principlesimpact the sustainability of the firm and what actions it can take to ensure success.The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality finalsubmissions. In this assignment, you will demonstrate your mastery of the following course outcomes:ECO-201-01: Apply microeconomic models to real-world situations for informing effective business decisionsECO-201-02: Analyze business and market data using microeconomic tools for their impact on business sustainabilityECO-201-03: Evaluate the structure of various markets for informing effective decision-making strategiesECO-201-04: Assess the behavior and decisions of individuals and firms for their relation to the microeconomic frameworkECO-201-01: Apply microeconomic models to real-world situations for informing effective business decisionsECO-201-02: Analyze business and market data using microeconomic tools for their impact on business sustainabilityECO-201-03: Evaluate the structure of various markets for informing effective decision-making strategiesECO-201-04: Assess the behavior and decisions of individuals and firms for their relation to the microeconomic framework
