1) Give an example of a business you are familiar with (yo…
1) Give an example of a business you are familiar with (you either work in this industry or plan to). Which industry does this business belong? List the business’ fixed and variable costs (at least 3 of each) 2) Explain the difference between the decision to shutdown and to exit the industry. 3) Using the example of the business you listed in 1), why would the owner keep their business open but let it deteriorate, rather than shut it down?