a graph showing the family of average cost curves (AC, AVC, AFC) and put
the MC on this graph too. As in part (a) show these four curves prior to
the imposition of the ban and, on the same graph show the impact of the
ban on this set of curves. Be sure to properly label your graphs so I
understand the before and after picture.
Jan 1st, 2016
c.) These new bags
cost about 10 cents more than the old bags. If the average customer uses 5
bags per purchase (the Q) from a store, draw a representative Supply
and Demand curve to represent the impact on the market for these
large retail outlets. Discuss the important insights from this graph.