History Round 1 2 3 5 Drive Today? Yes Yes Yes Yes Yes Drivers 7 3 4 6 6 Revenue per Hour $14 $25 $21 $16 $16 Your Hours 15 15 Profit -$19 $86 $26 SO -$64 Figure 3.1 [Insert your responses to the following questions: Analyze a business owner's decision making regarding whether to enter a market. For example, what factors determined the driver's entry and exit into the market in the simulation? Use economic models to support your analysis.] How does a business owner apply the concept of marginal costs to decide how much to produce? For example, how did the driver determine how many hours to drive each day? Use economic models to explain.] [How does the impact of fixed costs change production decisions in the short run and in the long run? Use the average-total-cost (ATC) model included in the textbook to demonstrate this impact.]