ECO 204 Week 2 Assignment Short Run and Long Run Decision Making

Apr 16th, 2015
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Short Run and Long Run Decision MakingPrinciples of MicroeconomicsECO204When an owner has a high demand venue that does not seat everyone that wants to attend the event he/she must make short and long run decisions in order to keep the customers coming as well as being able to maintain the business. As the president of a nonprofit theater that has tickets constantly being sold out I must think about what needs to be done to secure more space for the long run to maintain the profits along with a possible gain to expand the venue.In the short run, I will first look at the fix cost such as the cost of utilities, props for the event, employee pay, and determining the amount of employees that will be needed to maintain the event remain a safe and secure event. After reviewing previous records from the same event at least a few years back; this will give me a rough estimat

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