Question

graphs must display the following:

  1. The average fixed cost curve will never intersect with either the horizontal or vertical axis.
  2. There must be proper positioning of the Average Total Cost curve and Average Variable Cost curve.
  3. The Average Total Cost curve and Average Variable Cost curve must not touch (in between is average fixed costs – which can never be zero).
  4. The Marginal Cost Curve is shaped like a Nike swoosh.
  5. The Marginal Cost Curve crosses the Average Total Cost curve and Average Variable Cost curves at the lowest point

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