plus.pearson.com (19 567 non lus) - harding218@yahoo. Free Grammar Checker (Online Editor) Questions Summary: Costs NA Mini-Case "Short-Run Versus Long-Run in the Sharing Economy."(D) 2.3 In the twentieth century, department stores and supermarkets largely replaced smaller specialty stores, as consumers found it more efficient to go to one store rather than many. In the early part of this century, many shoppers changed their behavior again and began to favor online shopping over visiting a brick-and-mortar store. Consumers incur a transaction or search cost to shop, primarily the opportunity cost of their time. This transaction cost consists of a fixed cost of traveling to and from the store and a variable cost that rises with the number of different types of items the consumer tries to find on the shelves. By shopping online a consumer can avoid some of the fixed transaction costs of traveling to a physical store. Use math to explain why a shopper's average costs may be lower when buying online rather than from a physical store and then explain why online shopping hasn't eliminated brick-and-mortar stores altogether. 2.4 Give the formulas for and plot AFC, MC, AVC, and AC if the cost function is a. C = 10 + 10q, b. C = 10 + q, or c. C = 10 + 10q - 492 + 9. C 2.5 In 1796, Gottfried Christoph Hartel, a German music publisher, calculated the cost of printing music using an engraved plate technology and applied these estimated cost functions in making production decisions. Hartel figured that the fixed cost of printing