Week 3 Discussion COLLAPSE Overall Rating: 12345 12345 Watch the video, Revenues, Profits, and Price, to help you prepare for this weeks discussion: Start your discussion by responding to this question using the company for which you currently work, a business with which youre familiar, or the dream business you want to start: What are some key fixed and variable costs for this business? Remember, fixed costs do not change when output changes. That is, fixed costs remain even if the company is producing nothing. Variable costs increase as output increases. Be sure to respond to at least one of your classmates posts and share another idea for a type of cost. RE: Week 3 Discussion COLLAPSE Overall Rating: 12345 12345 Hello Professor and Class! The business that I will be speaking of is a my dream business to own my own restaurant. Some fixed cost of owning a restaurant would be rent, license fees, or insurance for the business. Some variable cost could be food, utilities, and pay checks for employees. Nothing changes about paying rent or mortgage on the building, paying yearly license fees or having insurance in case of any damages to your business. Variable cost does have changes due to turn over rates of employees, food cost, and even pay for the employees. Undertstanding the difference is what keeps businesses successful.
