A firm has fixed costs of $100 and variable costs of the following: a. Show AFC, ATC,
Question:
A firm has fixed costs of $100 and variable costs of the following:
a. Show AFC, ATC, AVC, and MC in a table.
b. Graph the AFC, ATC, AVC, and MC curves.
c. Explain the relationship between the MC curve and the AVC and ATC curves.
d. Say fixed costs dropped to $50. Which curves shifted? Why?
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c Relationship between the MC curve and the AVC and ATC curves The MC curve intersects the AVC a...View the full answer
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