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A firm has the following cost structure: Unit Price: $10 Unit Direct Cost: $8 Fixed Cost: $1000 (for capacity up to 1000 units) Advice for

A firm has the following cost structure:

Unit Price: $10

Unit Direct Cost: $8

Fixed Cost: $1000 (for capacity up to 1000 units)

Advice for the following concerns:

  1. This is a new business: what are the immediate concerns?
  2. The market is competitive: any effective strategy in such a market?
  3. Long-term planning considerations?

Ground your advice on data given and provide actionable suggestions with data given.

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