Question
Assume that a firm's total cost of producing an output of 2,000 units is currently $40,000. If output increases to 3,000, total cost increases to
Assume that a firm's total cost of producing an output of 2,000 units is currently $40,000. If output increases to 3,000, total cost increases to $60,000 and the price of inputs and technology remain unchanged, calculate the change in average total cost.
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
