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(Solved): Suppose you are currently operating a hamburger restaurant that is part of a competitive industry in ...



Suppose you are currently operating a hamburger restaurant that is part of a competitive industry in your city. Your restaurant is identical to others in its production technology which employs labor ? and capital k and has decreasing returns to scale. (a) In addition to paying for labor and capital each week, each restaurant also has to pay recurring weekly fees F in order to operate. Illustrate the average weekly long run cost curve for your restaurant.



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