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Question: Examine the relationship between Marginal cost and average cost for firm in the short run (5 marks) Related slides: THIS IS AN EXAMPLE OF

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Question: Examine the relationship between Marginal cost and average cost for firm in the short run (5 marks)

Related slides: THIS IS AN EXAMPLE OF THE SLIDES PROVIDED IN ACCORDANCE WITH THE QUESTION. Please add quantity and draw your own graph and attach it to the answer. Also give a detailed explanation

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Q. Examine the relationship between AC and MC in the SR. Relationship between AC and MC . AC and MC MC AC When MC AC, AC is Rising A When MC = AC, AC is minimum E F G 0 Q Q Q , Q (output)

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