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Production, ntry, and Exit DrlveTudW? Yes Yes Drivers 4 5 Revenue Per Hour 52! 518 Your Hours 9 7 Plum. w :13 Figure 3.1 [Insert
Production, ntry, and Exit DrlveTudW? Yes Yes Drivers 4 5 Revenue Per Hour 52! 518 Your Hours 9 7 Plum. w :13 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 entryr 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?I For example, how did the driver determine how many hours to drive each day? 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-totalcost (ATC) model included in the module reading chapters to demonstrate this impact]
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