1. What is the definition of fixed and variable costs in the article?
2. What are examples of fixed and variable costs of a pizzeria according to the article?
3. Look at the definition of fixed and variable costs in the text book and lecture notes. Are the definition and examples of fixed and variable costs in the article consistent with the one in the text book and/or lecture notes?
4. If you were to open a business of your choice, state the type of business you would like to open and list all the fixed costs and variable costs of your business.
5. Be prepared to discuss your answers in class.