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Highlights for Exam 3

Highlights for Exam 3. Production Function and Cost Curve. Output. Cost $. # of Workers. Output (Quantity). Cost Curves. Cost. Why do MC, ATC, and AVC slope up, and how do they relate?. MC. Why does MC cross ATC and AVC at their lowest point?. Why does AVC converge to ATC?. ATC. AVC.

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P loss avc avc - PowerPoint PPT Presentation

Highlights for Exam 3