Q. Watch the video titled "Fear the Boom and Bust". Using the tools of macroeconomics, identify the primary difference between the two philosophies. Choose a position and discuss the application of that position on today's current environment. Be sure to tell me what you would do, using the tools of economics, to stabilize this economy and move it to recovery.
Supply Curve and the Average Total cost
The long run ATC is like this
C= 30 - .01Q for Q <2 500
C= 5 for Q>= 2500
Demand curve = 50-0.001Q
Draw the long-run supply curve (assume that cost of input does not increase as output increases).