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You will be evaluating each of the questions as you will need to make sure to use relevant economic terms and content development in your work.
Scoring Rubric:
1. must include APA formatted in-text citation/reference, 20%
2. use of economic terms, 20%
3. correctness to each question and at least 2-3 paragraphs for each question, 60%
Questions:
1. Identify a fixed cost
2. Identify a variable cost
3. Explain how a firm is able to deal with both types of costs.
4. Explain the difference between the short and long run.
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