Reference no: EM13244137
Fixed and Variable Costs. After reading Chapter 8 in the text and viewing the required
video for this week, Fixed, variable, and marginal cost, address the following in your initial post:
a. First, describe several different fixed costs and variable costs associated with operating an automobile.
b. Next, assume that you would like to travel from Los Angeles to New York City by either car or plane.
Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
Guided Response: Review the discussion board posts of your classmates. Analyze the difference in your answer to your peers in response to the different costs that are discussed. Respond to at least two of your classmates. Discuss the different types of costs like fixed, variable, or both.
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Who gains and who loses from a tariff
: Guided Response: Review the discussion board posts of your classmates. Note their analysis of those who gain and lose from a tariff. Respond to at least two of your classmates.
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Why would cash transfers typically be preferred by recipient
: Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective? Respond to at least two of your classmates.
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Explain how each barrier can foster either monopoly
: Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers?
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Explain the most important characteristic in perfect
: Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run
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Which costs would you take into account in making
: Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
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Will this necessarily result in more revenue
: Raise or Lower Tuition? Suppose that, in an attempt to raise more revenue, Nobody State University increases its tuition. Will this necessarily result in more revenue?
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Explain your reasoning and relate your answers
: Guided Response: Review the discussion board posts of your classmates. Note their responses to the determinants of price elasticity of demand. Respond to at least two of your classmates. Discuss with your peers the characteristics of an inelastic ver..
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Describe the difference between the short run and long run
: Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
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Why does the government need to get involved with external
: In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your xamples?
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