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Consider Figure 7, which shows the marginal revenue (MR), marginal cost (MC), average total cost (ATC), and the average variable cost (AVC) curves for Firm

Consider Figure 7, which shows the marginal revenue (MR), marginal cost (MC), average total cost (ATC), and the average variable cost (AVC) curves for Firm 1.

Figure 7 - MR, MC, ATC, and AVC Curves for Firm 1

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