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Draw average variable cost, average total …

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Draw average variable cost, average total cost, and marginal cost curves in a single diagram. State the relation between MC curve and AVC & ATC curves.
  • 1 answers

Preeti Dabral 1 year, 5 months ago

  • All the three curves are U-shaped due to the law of variable proportion.
  • Marginal Cost curve cut both Average total cost and Average variable cost from their lowest point.
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