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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Principles Of Microeconomics

ISBN: 9781843317708

1st Edition

Authors: Libby Rittenberg, Timothy Tregarthen

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