1.

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.

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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