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40. In the graph below, what does Area A, B, & C indicate? Where will the Marginal Cost (MC) curve and the Average Product curve
40. In the graph below, what does Area A, B, & C indicate? Where will the Marginal Cost (MC) curve and the Average Product curve (AP) intersect (a mathematical necessity)? Area A Area B Area C MC intersects AP TP Rectangul A B C MP 41. What is the difference between Fixed Costs and Variable Costs? 42. Why is Marginal Cost = A in TC divided by A in Q and also A in TVC divided by A in Q? 43. Fill in the missing information. Marginal Total Costs Average Costs Cost TP TFC TVC TC AFC AVC ATC MC O $90 $190 $170 5270 $50.00 $135.00 44. What is the difference between Short Run Costs and Long Run Costs
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