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Program Spending: Government spending that is undertaken to provide useful public programs. Program spending includes both transfer payments which are intended to supplement the income of households (through programs like unemployment insurance or public pensions) and direct government production of services (like health care or education). Program spending doesn't include government debt service charges.
If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
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explaination of quasi rent theory
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