This question was created from Assignment 4-FA17 AP2.docx https://www.coursehero.com/file/26547905/Assignment-4-FA17-AP2docx/

Use the data from question 2 and respond to the following: Current fixed costs for the company equal $75. Draw two graphs, both with Q on the horizontal axis: one graph shows TVC and TC, and the other shows AVC, AC, and MC. Suppose that the government imposes a $15 property tax hike on all businesses; how will that affect your two graphs; i.e., which cost curves will be affected and how? Select one: a. TC and AC will both shift up by $15Q (i.e., $15 divided by Q). b. The property tax will shift up TC by $15 and AC by $15Q (i.e., $15 divided by Q). c. MC will shift up by the amount of the tax (i.e., by $15). d. TC will shift up by $15 while AC and MC will shift down by $15Q (i.e., $15 divided by Q).

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