*2.1 Nicolas has purchased a streaming audio service for $8.00 per month. As he listens to more songs in a month he spreads this fixed
*2.1 Nicolas has purchased a streaming audio service for
$8.00 per month. As he listens to more songs in a month he spreads this fixed cost over a larger quantity, q. Derive an algebraic formula for his average fixed cost per song and draw it in a diagram. One of his friends says to Nicolas: “The more music you listen to, the less you pay per song so you should spend all your time listening to music.” What is wrong with this reasoning?
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Authors: Jeffrey M. Perloff, James A. Brander
2nd Global Edition
9780134167879
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