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1. Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following:n
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   1. the firm’s AFC (average fixed cost);

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   2. the firm’s AVC (average variable cost);

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   3. the firm’s ATC (average total cost); and,

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   4. the firm’s MC (marginal cost)?

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2. What changes, if any, is there likely to be in these same cost CURVES?

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