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    Short-Run/Long-Run Costs and Output Decisions

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    Name a business (for example, a restaurant, book store, home supply store, etc.)

    Make a list of some of its fixed costs, and a second list of some of its variable costs.

    Why it is so important to differentiate between fixed and variable costs?

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    https://brainmass.com/economics/personal-finance-savings/short-run-long-run-costs-output-decisions-419041

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    Short-Run/Long-Run Costs and Output Decisions
    Name a business (for example, a restaurant, book store, home supply store, etc.)
    I have taken example of restaurant. Fixed costs are those which doesn't change with the change in the level of operations. Variable costs change with the ...

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    The solution discusses the Short-Run/Long-Run Costs and Output Decisions.

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