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Now suppose the cost of the fixed input declines. Does the optimal level of output change? Illustrate on the graph what happens to the firm's
Now suppose the cost of the fixed input declines. Does the optimal level of output change? Illustrate on the graph what happens to the firm's choice and explain in words. Do profits increase or decrease? Illustrate on the graph and explain why
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
