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The owner of a local store represents his short run production below. Labor is (L) and represents the amount of workers hired, Q is the number of bagels produced per day. The current wage is $100 per day and the firm has $200 per day in fixed costs.

If L is 1 and Q is 25, what is AP, MP, TVC, TFC, TC, AVC, AFC, and ATC?

how do you set these up?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9676171

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