In the Week 1 Discussion (also known as a small business scenario), you develop

In the Week 1 Discussion (also
known as a small business scenario), you develop a specific business good or
service (see below). You should use this specific good or service for all of the remaining
weeks, please do not change your good or service.
If the market for your
good were to suddenly become perfectly competitive.
Business
Name: Xcel Innovation Solutions, LLC
Type of
Business: Commercial & Residential Cleaning Service
Type of
Service: Professional Cleaning Service
Indicate what happens to the
firm’s demand curve.
Describe the perfectly
competitive equilibrium price and quantity.
Discuss the prospects for your
small business in the long run.
Please use citation: (Mankiw, N. G. (2020). Essentials
of economics. Cengage learning.)