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Recall from the lectures that we derived another expression for MC (marginal cost) using the profit-maximizing condition for any firm's decision to demand labor. Using
Recall from the lectures that we derived another expression for MC (marginal cost) using the profit-maximizing condition for any firm's decision to demand labor. Using that expression for the Moldavian apple market, we find that MC ________ with output, and has a value of ________ at the equilibrium you calculated in (b) above. a. Increases ; $4 / apple b. Increases ; $2 / apple c. Decreases ; $4 / apple d. Decreases ; $2 / apple
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