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Use the following to answer questions: Use the following to answer questions:   -(Table: Cakes) Look at the table Cakes. Pat is opening a bakery to make and sell special birthday cakes. Her estimated fixed and average variable costs if she purchases one, two, or three mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. Suppose that Pat used to produce 200 cakes, but she has a sudden increase in demand, so that she begins to produce 400 cakes. Explain how her average total cost will change in the short run and in the long run.
-(Table: Cakes) Look at the table Cakes. Pat is opening a bakery to make and sell special birthday cakes. Her estimated fixed and average variable costs if she purchases one, two, or three mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. Suppose that Pat used to produce 200 cakes, but she has a sudden increase in demand, so that she begins to produce 400 cakes. Explain how her average total cost will change in the short run and in the long run.


Definitions:

Specific Phobia

A type of anxiety disorder characterized by an excessive and irrational fear of a specific object, situation, or activity.

Embarrassment

A feeling of self-consciousness, shame, or awkwardness that occurs when a person's dignity is wounded.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about multiple different things.

Panic Disorder

A mental health condition characterized by recurring panic attacks, often for no apparent reason, and the persistent fear of experiencing future attacks.

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