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Output Variable Cost Total Cost AFC AVC ATC Marginal Cost 400 700 1, 000 1, 400 Use the table and assume a fixed cost of

Output Variable Cost Total Cost AFC AVC ATC Marginal Cost 400 700 1, 000 1, 400 Use the table and assume a fixed cost of $1,000. At an output of 3, AVC is $250 O $300 $333. $667

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