In your initial post, include the image of your simulation report in your response 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 History Round 1 2 3 4 5 Drive Today Yes Yes No Yes Yes Drivers 4 5 6 5 8 Revenue per Hour $21 $18 $16 $18 $12 YourHours 10 9 N A 9 6 Profit $46 $17 0 $17 $28

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Question: In your initial post, include the image of your simulation report in your response. Then, address the following questions: Imagine you own your own business.

In your initial post, include the image of your simulation report in your response. 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.

History Round 1 2 3 4 5 Drive Today? Yes Yes No Yes Yes Drivers 4 5 6 5 8 Revenue per Hour $21 $18 $16 $18 $12 YourHours 10 9 N/A 9 6 Profit $46 $17 0 $17 -$28

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