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Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642 Exercise 3
Kat runs a cake shop. Her monthly expenses are listed below. For each cost, indicate whether the cost is a fixed cost or a variable cost of producing cakes in the short run.
a. Ingredients (flour, butter, sugar).b. Bakers (cooks).c. Rent.d. Payments for equipment (ovens).e. Interest payments for borrowed capital.
a. Ingredients (flour, butter, sugar).b. Bakers (cooks).c. Rent.d. Payments for equipment (ovens).e. Interest payments for borrowed capital.
Explanation
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Verified
a.
Ingredients (flour, butter, sugar)
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Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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