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Total Cost Curves
Total Cost (TC),
Total Variable Cost, (TVC),
Total Fixed Cost (TFC)
Average Cost Curves and Marginal
Cost
Average Total Cost (ATC)
, Average Variable Cost, (TVC), Average Fixed Cost (AFC),
and Marginal Cost (MC)
NOTICE: MC crosses ATC and AVC at
their lowest points
Which graph below is drawn
correctly?
Which graph below is drawn
correctly?
Which colored rectangle below is
largest?
(assume the ATC and AVC curves are identical.)
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