Looking Closely At Cost And Competition Watch This Video Revenue Profits And Pr

“Looking Closely at Cost and Competition”

Watch this video, Revenue, Profits, and Price: Crash Course Economics #24 (https://youtu.be/UWImfFax8Ew) , to help you prepare for this week’s discussion.

Reply to the following prompts by using  a business with which you’re familiar.

• Do you think it’s easy for your selected business to enter this same industry? 
• What are some key fixed, variable, implicit, and/or opportunity costs?