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2. You have collected the following data on output and total variable costs: Q TVC ($) 10 72,700 20 123,600 30 156,900 40 176,800 50
2. You have collected the following data on output and total variable costs:
Q TVC ($)
10 72,700
20 123,600
30 156,900
40 176,800
50 187,500
60 193,200
70 198,100
80 206,400
90 222,300
100 250,000
Suppose that the government imposes a $75,000 property tax hike on all businesses; how will that affect your two graphs; i.e., which cost curves will be affected and how?
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