Explain Why There Are No Fixed Costs in the Long Run (Ch.7) 50 pts Jun 25, 2022 at 12:41 AM Graded Discussion: 6Your individual response/post is due by 11PM, May 4th Wednesday, and responses to peers/colleagues are due by 11PM Friday, May 7th. Explain why there are no fixed costs in the long run A firm faces no fixed costs in the long run. To help understand this idea, let's consider some applications that we may run into. For this discussion, your task is to: 1. Pick a cost that is fixed in the short run for either a real-world or hypothetical firm connected to your career path or field of interest. 2. Explain why, in the long run, this cost is likely to become variable for that firm. 3. Reply to two of your peers' posts. 4. Use college-level written English (punctuation, grammar, syntax, etc.) 5. Provide a substantive response to your peers. Unacceptable replies/responses include "Yea, I agree", "I think you are correct." "I like what you said." etc. 6. Responses (individual and peer responses) up to 150 words (use spell-check and word count to verify). Learning Objective: 7.5.4-Analyze cost and production in the long and short run *Discussion Rubric Can be viewed by opening 3-dots at top right of discussion screen. Reply