e shapes of firms' cost curves are important because they help us determine how the firm will produce. cost curves tell us the profitability of the firm. cost curves give us an idea of what a firm's total revenues will be at different output levels. they help us understand the market that the firm is in.
e shapes of firms' cost curves are important because they help us determine how the firm will produce. cost curves tell us the profitability of the firm. cost curves give us an idea of what a firm's total revenues will be at different output levels. they help us understand the market that the firm is in.
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 4.7P
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The shapes of firms' cost
- they help us determine how the firm will produce.
- cost curves tell us the profitability of the firm.
- cost curves give us an idea of what a firm's total revenues will be at different output levels.
- they help us understand the market that the firm is in.
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