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QUESTION 14 Assume that a firm's total cost of producing an output of 1,000 units is currently $20,000. If output increases to 2,000 units, total

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QUESTION 14 Assume that a firm's total cost of producing an output of 1,000 units is currently $20,000. If output increases to 2,000 units, total cost increases to $40,000 and the price of inputs and technology remain unchanged, calculate the change in average total cost. Increase of $20 Increase of $40 Decrease of $20 No change

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