How would the total cost curve change if the price increased

Reference no: EM13192675

We derived the total cost curve from the total product curve by assuming that the price of the variable input was constant. How would the total cost curve change if the price of the variable input increased? You should answer this by drawing two total cost curves in the same graph, one with the low input price and one for the high input price.

Reference no: EM13192675

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