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1. Label the three curves ATC - Average Total Cost; MC - Marginal Cost; MR - Marginal Revenue) on the graph given in Figure 6.3,

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1. Label the three curves ATC - Average Total Cost; MC - Marginal Cost; MR - Marginal Revenue) on the graph given in Figure 6.3, for a firm in a perfectly competitive market situation. Figure 6.3 Prico or Cost (per lom) UNWAGONOOO 0 2 3 4 5 Quantity (Homa per hour) In thousands

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