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Now, consider the market for EV batteries. The Wall Street Journal article referenced in Question 1 explains that the cost of production of EV batteries
Now, consider the market for EV batteries. The Wall Street Journal article referenced in Question 1 explains that the cost of production of EV batteries in 2023 has decreased relative to 2013 due to (1) lower raw material prices and (2) improvements in technology that led to a decrease in the amount of battery metals used in a typical battery. Please break down the impact of these two changes (lower raw material prices and reduction in the amount of metal per battery) on fixed, marginal, variable, and total costs of producing EV batteries, assuming other factors are unchanged from 2013 to 2023. Use the pull-down menus to select one answer for each category of costs
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