Question: What is the difference between fixed costs and variable costs? Consider you own a pizzeria. Give examples of its Variable costs. Give examples of its

What is the difference between fixed costs and variable costs? Consider you own a pizzeria. Give examples of its Variable costs. Give examples of its fixed costs. What would the shapes of total cost curve (TC) and the variable cost (VC) be? Why? What criteria are used to identify markets? What is the difference between an industry and a market? For each of the following industries, state what market structure characterizes the industry and justify why you think it is that market structure. Why is an oligopoly characterized by mutual interdependence

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