State whether the following describes MC (marginal cost), ATC (average total cost), AVC (average variable cost), or AFC (average fixec cost). Some statements may describe more than one cost curve. a. Costs continuously decline as output rises. b. Always lies above the AVC curve. c. First declines as quantity increases, but then increases as quantity increases. d. Cuts the ATC and AVC at their minimum points.

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A: Fixed cost (F) is same for all output. That is, F is equal to $200.

Q: The marginal-cost (MC) curve cuts through the average-total-cost (ATC) curve and the…

A: Answer to the question is as follows:

Q: Why the average fixed cost curve does not touch the output axis ? YA AFC Output Cost

A:

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A: The following cost calculations are done below:

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A:

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Q: Draw average variable cost ,average total cost and marginal cost curve in a single diagram!!!!

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Q: total revenue (TR) and total variable cost

A:

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Q: Hi there can you please assist on the following question . Fill in the missing figures Output…

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A: There exist various relationship between these curves.

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