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Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost it will be seen from that the vertical distance between the TVC curve and TC curve is constant throughout. This is because the vertical distance between the TVC and TC curves represents the amount of total fixed cost which remains unchanged as output is increased in the short run. It should also be noted that the vertical distance between the total cost curve (TC) and the total fixed curve (TFC) represents the amount of total variable costs which increase with the increase in output. The shape of the total cost distance always separated the two curves.
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
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In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot ''see'' the demand curve. Explain how a monopolist might
an increase in immigrants
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define stagflation
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