“Production Economics” Please respond to the following:
- From the scenario, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs. Recommend the key decision-making criteria that Katrina’s Candies should use for expansion decisions in the short run and in the long run. Provide rationale for your response. From the e-Activity, recommend whether the company in question should or should not continue to produce the good or service. Provide a rationale for your response.