1. What are the necessary inputs to operate a business on amazon selling pallets of prodcts? These will include short-run costs and long-run costs. (Consider rent/mortgage, computers, desks, supplies for production, utilities, etc.)
2. Using the concept of elasticity, describe how your customers would react if you incurred increased input costs and incorporated them into your prices.
3. Wages can either be a fixed cost or a variable cost. From the perspective of both the employer and employee, what are some of the advantages and disadvantages of each type of employment? Describe the salary structure of your selected business.
4. Consumer tastes and preferences are always changing. Describe two occasions when your business that sells products from a pallet on amazon would need to adjust to these new tastes and preferences. Keep in mind they could be either positive or negative for your business.