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1. How much does an Original Pretzel cost, at Auntie Anne's? Does the price seem reasonable to you as a consumer? Explain.

2. Name a fixed cost that would likely be associated with making the pretzel you discussed above. What makes this cost a "fixed" cost?

3. Name a variable cost that would likely be associated with making the pretzel you discussed above. What makes this cost a "variable" cost?

4. Suppose that Auntie Anne's at the Galleria Mall in St. Louis Missouri sold 10,000 pretzels last year, with a total fixed cost of $15,000 and a variable cost of $0.50 per pretzel. If each pretzel sold at the price you noted in Question 1, what was the store's profit -- defined as revenue (=price times quantity) minus total cost (= total fixed cost + total variable cost)?