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amount analysis average variable cost beneﬁts breakeven Business Week Chapter combination of inputs constraints cost curve decision deﬁned demand curve demand function determine discount rate discussed economic elasticity of demand equal equation estimate example external market Figure ﬁgures ﬁnal product division ﬁnd ﬁrm manager ﬁrm’s ﬁrst ﬁxed costs given greater than normal income increase industry isocost isoquant labor least cost combination level of output linear programming long-run average cost marginal cost marginal product marginal revenue marginal revenue product maximize proﬁt monopolistic competition monopoly normal proﬁt obtain oligopoly operating opportunity cost optimal panel percent perfectly competitive plant present value price elasticity primal problem proﬁt-maximizing quantity demanded quantity sold regression relationship returns to scale revenue curve sell short-run signiﬁcance situation slope speciﬁc strategy supply curve Table total cost total proﬁt total revenue transfer product division unit of output variable input zero