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If there are no fixed costs of production, in the long run, the perfectly-competitive firm will produce
(a) where AV C is minimized.
(b) more units than would have been produced had there been fixed costs of production.
(c) fewer units than would minimize the firm’s average variable cost.
(d) None of the above.
Now suppose Starbucks introduces world to premium blends, and so demand rises substantially.
Presently, boats rent for $500 per day also workers cost $100 per day. How many workers do you need to produce 200 tons of shrimp?
Find out data on wages, employment, and minimum wage laws in developing countries from the internet & summarize this information.
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The U.S. faces the world price, and domestic suppliers sell as many. Discuss the effect of the tariff on the number of imports.
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Demand and supply of certain resources in Australia and factors other than price which affect demand and supply
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