Short and long-run marginal and average cost curves

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How will a tax of $5 per unit produced affect the short- and long-run marginal and average cost curves? What about an annual license fee of $500 per year regardless of production level? (Make sure you address all possible average costs—e.g., fixed, variable, total—depending on whether you are in the short or long run.)

Reference no: EM131385587

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