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How to I know if its is long run or short run? (C) 6 Production Cost Exercin 5. The table shows the production cost of

How to I know if its is long run or short run? (C)

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6 Production Cost Exercin 5. The table shows the production cost of the electric company in Aral TVC ITC TFC ATC TC - TFC TC - TVC Total Output TVC TFC AVC AC AFC MC Cost (RM) (RM) (RM) (RM) (RM) (units) (RM) (RM) 0 500 O 500 700 500 200 70 0 too 300 200 2 800 300 500 150 400 100 3 1050 550 500 1 83.3 350 166. 71 250 4 1450 950 500 237.51 362. 5 125 400 5 1960 1480 500 292 "392 100 510 (a) Complete the table above. (b) Using graph paper, draw the average cost, average fixed cost average variable cost and marginal cost. (c) Assign whether the electric company operating in the short run or long run. Share your reason. (d) Provide TWO (2) examples of variable cost that might be used by the electric company

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