In your initial post, include the image of your simulation report in our response.See the How to Submit a Simulation Report Image PDF document for more information. Then, address the following questions:? Imagine you own your own business. Based on what you learned from the simulation, what factors would determine your entry and exit into a market?? Applying the concept of marginal costs, how would you, as a business owner, decide how much to produce?? How does the impact of fixed costs change production decisions in the short run and in the long run? Refer to the average total-cost (ATC) model included in the textbook to demonstrate.

Lab History Potential Drivers: 10 Fixed Cost of Driving: $64 Round Drive Today? Drivers Revenue per Your Driving Hours Sum of Marginal Hour Cost Profit Yes 4 $21 10 $100 $46 2 Yes 5 $18 10 $100 $16 3 Yes 6 $16 8 $64 $0 4 Yes 6 $16 8 $64 $0 Yes 6 $16 8 $64 $0