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Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
Edition 13ISBN: 978-0538452281Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
Edition 13ISBN: 978-0538452281 Exercise 8
Which of the following are relevant to a firm's decision to increase output: (a) short-run average total cost, (b) short-run marginal cost, (c) long-run average total cost? Justify your answer.
Explanation
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a) Short-run average total cost is not r...
Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
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