Question
Based on the business idea adopted in our discussions these past 7 weeks, please conduct the following: 1 a table with MC, ATC, AVC and
Based on the business idea adopted in our discussions these past 7 weeks, please conduct the following: 1 a table with MC, ATC, AVC and AFC curves. Be sure to INCLUDE NUMBERS IN YOUR GRAPH. ALSO, PLOT THE CURVES 2 what each curve means specifically to your business 3 what happens if you become a Price Taker and how your business is impacted. 4 what happens if you become engaged in monopolistic competition. NOTE: FOR BOTH PARTS "C" AND "D," YOU NEED TO ILLUSTRATE A PERFECTLY COMPETITIVE AND MONOPOLISTIC COMPETITION MODEL, AND EXPLAIN THOSE MODELS AS THEY PERTAIN TO YOUR BUSINESS.
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