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between the various costs to complete the following tables Total Variable Cost Total Cost Marginal Cost NO Output Total Fixed Cost 12 1 12 2
between the various costs to complete the following tables Total Variable Cost Total Cost Marginal Cost NO Output Total Fixed Cost 12 1 12 2 12 3 12 4 2 Average Average Fixed Cost Variable Cost NA Average Total COSE NA NA 4 18 2o 30 40 14 NA 4 JU 6 10 425 9 15 60 yo 4) Draw and understand the features of the stand graph. This granh should 4) Draw and understand the features of the standard U-shaped cost curves on one graph. This graph should include MC, ATC, AVC, and AFC. 5) Be able to use the cost curves to describe how perfect competition works. 6) Be able to draw the monopolist profit maximizing price and quantity on a graph. 7) Be able to use the cost curves to describe how monopolistic competition works
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