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QUESTION
Understand the supply curve. Understand how to apply the law of supply. Understand the study of how firms' decisions about prices and quantities...
- Understand the supply curve.
- Understand how to apply the law of supply.
- Understand the study of how firms' decisions about prices and quantities depend on the market conditions they face.
- Understand the field of industrial organization.
- Understand cost of production.
- What is the relationaship between average and marginal cost.
- What would happen to average and marginal cost if a technological technology is introduced in the production process.
