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Chapter questions

Chapter questions

Answer these two questions and demonstrate understanding of the material by providing a short answer. No more than a 1/2 page per question.

1)In an indifference curve/budget line framework, how does a consumer decide which of all possible combinations of goods to purchase?

2)Explain how new technologies, which increase productivity, affect the average variable cost, average total cost, and marginal cost curves.

Last Updated on February 11, 2019

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