You are an experienced small business owner who would like to become a franchisee of Quick Burger, a nationwide franchise of fast food restaurants. There are some Quick Burger restaurants in your area, but not so many that another franchise would be unprofitable. Before joining the franchise, you want to make sure that the essential terms are clear to both parties. Discuss potential issues you would need to resolve before entering into a franchise contract with Quick Burger.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.