1. Describe What would be some examples of fixed costs and variable costs for a farm? 2. Solve Problems Suppose you were advising a company that is experiencing a decline in marginal returns. What two steps might you recommend? 3. Express Problems Clearly Why is it sometimes not a good idea for a company to simply produce more of a good or service? 4. Identify Central Ideas What should be the basic goal of a firm when it sets a level of output? 5. Apply Concepts Explain the effect an increase in prices in the market would have on a factory's level of production