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Review the concepts of fixed, variable, total, and average costs discussed in th Review the concepts of fixed, variable, total, and average costs discussed in the following video.Short-Run Costs of ProductionLinks to an external site. https://www.tutor2u.net/economics/reference/short-run-costs-of-productionAgain consider the market you have chosen for your Real World Markets research paper.1. Research and describe the fixed and variable costs of producing the good in that market.2. Is there any recent news about production capacity constraints in that market?3. Describe the events and cite the source.Can you find any other recent news about the costs of production in that market? Be sure to cite the source.

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