The following problem i need help with i do not understand. I need to follow the below instructions and then graph on graph i have below I need help
October 5, 2020
According to the text (page 33), GDP per capita in the U.S. was $49,000 dollars in 2009. What will it be in 2019 given the following three
October 5, 2020
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Jim’s Burgers’recent technological innovations have allowed them to reduce the marginal cost of their burgers

Jim’s Burgers’ recent technological innovations have allowed them to reduce the marginal cost of their burgers

while the market price remained unchanged. Assume the market for burgers is perfectly competitive.

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Which of the following statements are true:

Stores should produce more burgers, compared to before the technological innovations, to maximise their profit at the current market price.

A store should produce the same quantity of burgers as before the technological innovations.

A store should produce fewer burgers to avoid an increase in average variable costs.

A store should now produce more burgers and then sell them at a price lower than the market price.

 

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