Consider a riparian model

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Reference no: EM13690326

Consider a Riparian model.

1) Draw the average and marginal cost curves as functions of output in the Ricardian model.

2) Draw the average and marginal revenue curves of a Ricardian firm.

3) What are the implications for the equilibrium profit?

4) What are the implications for the equilibrium output level of a firm?

Reference no: EM13690326

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