Explain what each curve means specifically to the business

Reference no: EM133531365

Case: Based on the coffee shop business idea adopted in our discussions these past 7 weeks, please conduct the following:

Question 1. Prepare a table with MC, ATC, AVC and AFC curves. Be sure to INCLUDE NUMBERS IN THE GRAPH. ALSO, PLOT THE CURVES.

Question 2. Explain what each curve means specifically to the business.

Question 3. Explain what happens if you become a Price Taker and how the business is impacted.

Question 4. Explain what happens if the business becomes engaged in monopolistic competition.

Reference no: EM133531365

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