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a) Given that the cost of producing x number of goods is y f(x), in your own words, describe the meaning of average cost. b)
a) Given that the cost of producing x number of goods is y f(x), in your own words, describe the meaning of average cost. b) Assume now that the average cost of producing 1000 number of goods is $2, what do we mean by marginal average cost of 1000 number of goods is $2.01 c) Should the company continue producing after 1000 goods are produced. Explain
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