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Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC. |
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Answer» Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC. |
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