Explain how each of the following will affect the average fixed cost, average variable cost, average total cost, and marginal cost curves faced by a steel manufacturer:
a. New union agreement increases hourly pay.
The average fixed cost curve will .
The average variable cost curve will .
The average total cost curve will .
Marginal cost will .
b. Local government imposes an annual lump-sum tax per plant.
The average fixed cost curve will .
The average variable cost curve will .
The average total cost curve will .
Marginal cost will .
c. Federal government imposes a "stack tax" on emission of air pollutants by steel mills.
The average fixed cost curve will .
The average variable cost curve will .
The average total cost curve will .
Marginal cost will .
d. New steel making technology increases productivity of every worker.
The average fixed cost curve will .
The average variable cost curve will .
The average total cost curve will .
Marginal cost will .
