Economics

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.