Scenario: The scenario above changes, because an increase in the wages of workers at Plant 2 causes marginal costs and average total costs at Plant 2 to rise:
Plant 2: New marginal cost: MC₂ = 20 + 2Q,
Plant 2: Average total cost: ATC₂ = 20 + Q.
Costs at Plant 1 do not change.
-Refer to the scenario above.Given costs have changed at Plant 2,what are the firm's total profits now that is maximizing profits but facing different costs at each facility? Explain your answer.
Definitions:
Appeal
The process by which a case is brought before a higher court for review of the decision of a lower court.
Deference
The respectful submission or yielding to the judgment, opinion, or decision of another.
Private Trial
An ADR method in which a referee is selected and paid by the disputing parties to offer a legally binding judgment in a dispute.
Public Record
Documents or pieces of information that are not considered confidential and are available to the public.
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