provide an economic explanation for the provided text below While on vacation, you go to a miniature golf course on a weekday and notice no other customers there while you golf. Why do you think a miniature golf course would stay open during the week when it seems like the revenue from so few customers could not possibly cover the costs of running the golf course? What is an example of another business that stays open even when it's slow, and their revenue does not seem like it could cover their costs? make sure to use concepts from either of the following topics (minimum of two from the list provided rest may be from own knowledge): externalities, public goods and common resources, understanding costs, business behaviour and businesses in competitive markets.

provide an economic explanation for the provided text below While on vacation, you go to a miniature golf course on a weekday and notice no other customers there while you golf. Why do you think a miniature golf course would stay open during the week when it seems like the revenue from so few customers could not possibly cover the costs of running the golf course? What is an example of another business that stays open even when it's slow, and their revenue does not seem like it could cover their costs? make sure to use concepts from either of the following topics (minimum of two from the list provided rest may be from own knowledge): externalities, public goods and common resources, understanding costs, business behaviour and businesses in competitive markets.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section8.4: Costs Of Production: Total, Average, Marginal

Problem 2ST

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