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For each of the four scenarios below, determine how each event would affect our firm's marginal, average, and average variable cost curves. Consider each situation independently. Describe in detail.
a. An increase in employee wages
b. A decrease in material costs
c. The government imposes a fixed amount of tax (i.e. it is not a percentage tax but a fixed dollar amount)
d. The rent that the firm pays on their building lease decreases.
input 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 ltbrgtoutput 0.0 4.9 13.2 24.3 37.6 52.5 68.4 84.7 100.8 116.1 130.0
Is it mercantilist thinking to want to have a positive trade balance? How can countries such as the United States have steady economic growth and a high standard of living with negative trade balances year after year?
the two largest diner chains in kansas compete for weekday breakfast consumers. the two chains golden inn and village
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An individual competitive firm’s short-run supply curve is the portion of its marginal cost curve that equals or rises above the average variable cost. Describe why
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1. assume that all expenditure is summarized in the following consumption and investment functionsc 200 billion 0.8
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