Part -1:
A. What are the key determinants of the market demand in your chosen industry?
B. Describe the current change (at least one) in the determinants that has caused the demand change.
Part -2:
A. What are the key determinants of an existing firm's (1) fixed costs and (2) variable costs in the short-run?
B. What is the shape of the existing firm's (1) average cost cure and (2) marginal cost curve (i.e. U-shaped or L-shaped)? A graph illustration here will be a plus.