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Q1. A firm in a purely competitive industry is currently producing 1000 units every day at a total of $450. If the firm produced 800 units every day, its total cost would be $300; also if it produced 500 units every day, its total cost would be $275. Illustrate what are the firm's ATC every unit at these three levels of production?

Q2. After wearing seat belts became malsoatory, drivers reacted by driving faster also less carefully. This is consistent with Illustrate what Principle of Economics?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9725076

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