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Production, Entry, and Exit [Replace this area with the Aggregate Outcomes chart,] Figure 3.1 [Insert your responses to the following questions: Analyze a business owner's

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Production, Entry, and Exit [Replace this area with the Aggregate Outcomes chart,] 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 applying the concept of marginal costs 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 xed costs change production decisions in the short run and in the long run? Use the averagetotaIcost (ATE) model included in the module reading chapters to demonstrate this impact]

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