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Assessing Cost Curves 1

Economics

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Assessing Cost Curves

1.The government says that firm X must pay $1000 in taxes simply because it is in the business of producing a good. What cost curves if any does this tax affect and does the MC change if TC changes.

2.If accounting profit is $400,000 greater than economic profit what do implicit costs equal?

3. If economic profit equals accounting profit, what do implicit costs equal?