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Consider the price-taker market for sports jackets. The following graph shows the marginal cost (MCMC), average total cost (ATCATC), and average variable cost (AVCAVC) curves

Consider the price-taker market for sports jackets. The following graph shows the marginal cost (MCMC), average total cost (ATCATC), and average variable cost (AVCAVC) curves for a typical firm in the market.

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