Pick a good or service and an associated company.
Distinguish between the short-run and the long-run production, and cost function for that good or service.
Discuss how price plays a role in short-run and the long-run decisions and how managers are likely to respond in each case.
Your response should be based on sound Economic Theory.
Using the same good or service from above, identify possible fixed and variables costs for the good or service.
PLEASE USE ONLY THIS 1 SOURCE
Book Managerial Economics 13th Edition Author: Christopher Thomas ISBN: 1260506304