(More difficult) In this chapter we stated that the firm's MC curve goes through the lowest point...

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(More difficult) In this chapter we stated that the firm's MC curve goes through the lowest point of its AC curve and also through the lowest point of its AVC curve. Because the AVC curve lies below the AC curve, how can both of these statements be true? Why are they true?
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Economics Principles and Policy

ISBN: 978-0538453653

12th edition

Authors: William J. Baumol, Alan S. Blinder

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