Microeconomics Essay Example | Topics and Well Written Essays - 250 words - 8

Microeconomics - Essay ExampleI would consider both fixed and variable costs in deciding to go to pass to New York from Los Angeles by either a plane or a car. Fixed costs that I will consider for the trip via plane include cost of an air ticket, luggage fees, and services provided on the journey, which are fixed costs as they have been determined by the airline and do non vary. Transportation costs to and from the airport, traffic and other costs arising after alighting from the plane are among the variable costs for consideration when traveling via plane. Fuel, food at stops, amount of money of traffic on the road, are the variable costs to be considered for travelling by car while car maintenance, toll fees, any repairs made on the way, parking fees paid in the course of the journey, washing and storage payments, and wear and tear to the car are fixed costs when travelling by car. As is evident, both fixed and variable costs are considered in making the decision on which trans port from to use to New York from Los Angeles.Ruegg, Rosalie T. The Police Patrol political machine Economic Efficiency in Acquisition, Operation, and Disposition Prepared for National Institute of Law Enforcement and Criminal Justice, Law Enforcement Assistance Administration, U.s. Department of Justice. Washington The Bureau, 1978.