Business, 26.10.2019 03:43 hnsanders00

Every candle maker in town a must have a license. the cost of a license is the same regardless of the number of candles a business produces. assume that the candle market is perfectly competitive.

i. does this license shift a candle maker's short-run average fixed cost curve?

ii. does this license shift a candle maker's short-run average variable cost curve?

iii. does this license shift a candle maker's short-run profit-maximizing choice of the number of candles to produce?
with the license, the short-run average fixed cost and the short-run average variable cost

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