[Insert your responses to the following questions: Analyze a business owner's decision making regarding whether to enter a market. Use economic models from the textbook to support your analysis.]

[How does a business owner apply the concept of marginal cost and marginal revenue to decide how much to produce? 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.]

History Round 2 3 4 5 Drive Today? Yes Yes Yes No Yes Drivers 2 10 6 5 7 Revenue per Hour $32 $10 $16 $18 $14 Your Hours 15 5 8 N/A 7 Profit $191 -$39 $0 0 -$15 End of Game 8 10 00:00