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Consider a place that you have worked either in the past or currently (for example a hotel, resort or golf course). Evaluate its costs and what management needs to consider to maximize profit. Discuss what costs can be reduced, both in the short and long term.
Explain the work experience: short run cost, long run cost, variable cost, fixed cost, sunk cost, average cost and marginal cost. Does the business have economies of scale?
Also consider your opportunity costs and any other implicit costs related to working there.
Focus on costs and do not discuss options for revenue improvement.
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