In this chapter, we studied the various types of costs that a producer considers when making decisions of how much to produce in order to maximize profits. We know that profits can be seen through two different perspectives, an economic one and an accounting one. In the accounting perspective, only explicit costs are accounted for (e.g. costs that show up on a company's financial statement). For reference, here is a recent10K annual report https://www.sec.gov/ix?doc=/Archives/edgar/data/1018724/000101872420000004/amzn-20191231x10k.htm#sA7A65C37475B5CDB99955FED2F5D76EE

filed by Amazon with the Securities and Exchange Commission (SEC).

For this post, choose a company of your choice. Then, explain some of the costs the company faces. Differentiate between the company's fixed costs and variable costs of production. In what way might the company face diminishing marginal product?