9. Explain how each of the following events would affect the marginal cost curves of firms and...
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9. Explain how each of the following events would affect the marginal cost curves of firms and thus the supply curve in a perfectly competitive market in the short run.
a. An increase in wages
b. A tax of $1 per unit of output imposed on the seller
c. The introduction of cost-cutting technology
d. The imposition of an annual license fee of $1,000
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Related Book For
Principles Of Microeconomics
ISBN: 9781843317708
1st Edition
Authors: Libby Rittenberg, Timothy Tregarthen
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