Good evening,

I am having difficulty in answering the below question.

Companies that operate in a competitive environment must optimize by decreasing both their short-run and long-run costs, as they have little control over the price that they charge for their product.

Choose a company or a market and discuss the cost structures for that company or market including fixed, variable, marginal, and/or total costs. Also, discuss how that company or market has or might decrease their costs of production, perhaps by integrating new technology in their production process.