4.Your richrelative died and left you $100,000, which you decided to use for your own Internet...

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4.Your richrelative died and left you $100,000, which you decided to use for your own Internet business. What will be your fixed and variable costs? Briefly discuss.8. As a farmer, you must decide how many times during the year to plant a new crop. Also, you must decide how far apart to space the plants. Will diminishing returns to be a factor in your decision making? Briefly discuss.9. How does having a menu that is uniform around the country provide McDonald's with economies of scale? Briefly discuss.

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4. Your richrelative died and left you $100,000, which you decided to use for your own Internet business. What will be your fixed and variable costs? Briefly discuss. 
Fixed costs will include the cost of the computer and its peripherals, ad expenses, expenses on postage and visiting cards. The costs of setting up an office are also fixed costs. These costs are not dependent on the amount of business generated in the short run.
 Variable costs include the expenses that depend on the amount of business generated.
The 100000 used will be an implicit cost. Suppose this amount could be used to generate 1000 as interest per year, then 1000 are being lost each year and must be part of economic costs and profits. 
8. As a farmer, you must decide how many times during the year to plant a new crop.

4.Your richrelative died and left you $100,000, which you decided to use for your own Internet business. What will be your fixed and variable costs? Briefly discuss.8. As a farmer, you must decide how...

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