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Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price? Using this information, your boss tells you that price cannot drop below $9 because you cannot earn enough profit to cover your fixed cost. What should you tell her?
Find the market-clearing price and quantity of burritos.
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What is a negative externality?
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What is buget line how it is calculated?
how does the concept of possibility production curve aplicable in real life?
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