Now, consider the market for EV batteries. The Wall Street Journal article explains that the cost of

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Now, consider the market for EV batteries. The Wall Street Journal article explains that the cost of production of EV batteries in 2023 has decreased relative to 2013 due to (1) lower raw material prices and (2) improvements in technology that led to a decrease in the amount of battery metals used in a typical battery. What happens to the Average Fixed Cost (AFC)? (Select the right option from below) - Increase (Shift Up) - Impossible to determine based on Information Given - Decrease (Shift down) - No Change

Posted Date: May 18, 2024 08:11 PM

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Now, consider the market for EV batteries. The Wall Street Journal article explains that the cost of

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