Learning Goal: I’m working on a economics question and need guidance to help me

Learning Goal: I’m working on a economics question and need guidance to help me learn.Different Cost Components Refer to text Ch.7, Example 7.2The author provides the different cost components (sunk, fixed and variable) of three industries – computers, software and pizzas. Choose any one industry and discuss the main cost components of this industry.Word limit: 50 – 100 wordsInput Substitution Refer to text, Ch. 7, Fig. 7.4 and Example 7.4 – ‘The Effect of Effluent Fees on Input Choices’.How should the manager of a steel plant respond to an EPA-imposed effluent fee of $10 per gallon of wastewater dumped in the river?Word limit: 50 – 100 wordsPerfect Competition Refer to text Ch. 8, Ex 8.3, ‘Some Cost Considerations for Managers’.In the example, the author provides three guidelines for measuring the marginal cost correctly.Explain briefly any two guidelines that the manager should keep in mind.Word limit: 50 – 100 wordsMonopoly Power Refer to text, Ch. 10, Example 10.3 – ‘Markup Pricing: Supermarkets to Designer Jeans’a. Why do small convenience stores which are often open 24-7 typically charge higher prices than supermarkets? b. Why are designer label jeans typically more expensive than ‘mass-market’ jeans?Word limit: 75 – 125 words
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