Answer to Question #284338 in Microeconomics for nilmi

Question

Select a business organisation closer to your household and identify the relevant fixed costs and variables costs, current production levels of the selected organisation. (The selected organisation maybe a small business located in your neighborhood). Develop a small write up (800 – 1500 words) on the cost behaviors for your selected organisation highlighting aspects such as average costs and marginal costs. (Present required graphical analysis wherever necessary). Considering the theoretical backgrounds on profit maximization of a firm, comment on whether the given organisation is operating/ producing at its profit maximizing quantity. (Your comments should be supported by an appropriate analysis).

Answer 1

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