Economics Discussion

Short and Long Run
Lets assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run

Fixed and Variable Costs

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After reading Chapter 8 in the text and viewing the Fixed, Variable, and Marginal Cost video, address the following in your initial post:
First, describe several different fixed costs and variable costs associated with operating an automobile.
Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both Make sure to explain your analysis in the decision that you have to make.
https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/average-costs-tutorial/v/fixed-variable-and-marginal-cost

Market Structures

Read the article, The Ethics of Big Data. Based on the content presented in the article, describe the microeconomic principles being used, in other words what is the impact for demand List the different types of market structures that big data benefits the least and benefits the most. While data collection may benefit the business community, discuss the potential concerns for consumers that arise with the proliferation of big data.
http://www.forbes.com/sites/emc/2014/03/27/the-ethics-of-big-data/#41040a3330c7

Barriers to Entry

Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers