Exam 11: Behind the Supply Curve: Inputs and Costs

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Firms choose their level of fixed cost in the long run based on the amount of output that they expect to produce.

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Use the following to answer questions: Use the following to answer questions:   -(Table: Costs of Producing Bagels) Look at the table Cost of Producing Bagels. Marginal cost reaches its minimum value for the _____ bagel. -(Table: Costs of Producing Bagels) Look at the table Cost of Producing Bagels. Marginal cost reaches its minimum value for the _____ bagel.

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