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FORUM DESCRlPTlON It requires a large sum of money to produce a musical CD. The band has to be formed and rehearsed. The recording studio

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FORUM DESCRlPTlON It requires a large sum of money to produce a musical CD. The band has to be formed and rehearsed. The recording studio needs to be rented and the music performed, taped and mixed. However, once one original CD has been created, it costs vertually nothing to produce additional CD3. In words, what would the average and marginal costs look like for thiis rm? Explain in detail. (Show that you understand what average and marginal cost look like.) [Source: Boyes and Melvin, ninth edition]

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