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Depict graphically a total cost curve TC = f + c - Q where f > 0 is the xed cost, i.e., TC(0) = f,

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Depict graphically a total cost curve TC = f + c - Q where f > 0 is the xed cost, i.e., TC(0) = f, and c is marginal cost. a) Depict this Total Cost curve graphically in a fully labelled diagram. b) In a separate diagram, depict the marginal cost curve as well as the average cost curve. c) If a rm with these cost curves happened to be the only rm in the industry, would the rm be a natural monopoly? ('yes' or 'no'). Explain, to justify your

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