Discussion Post: Microeconomics
You will define and calculate the remaining six major cost elements of a business, when given the total costs and the quantity produced, as well as use the computed costs to determine a minimum cost output level for that business. In addition, you will also clearly explain how the average total cost of a new output level is affected by its share of fixed costs and variable costs.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.