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Econ- cost curve homework

Econ- cost curve homework - of “run” Start with Q = 1...

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In the lower of the above graphs, draw MC and ATC. Make an effort to locate the curves at the appropriate heights. (Hint: The curves in the lower graph come from slopes. You can estimate a slope by laying a ruler down in the upper graph and estimating the amount of “rise” for every unit
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Unformatted text preview: of “run”.) Start with Q = 1, and don’t let the lack of precision bother you. On the back, do your best to explain why MC hits ATC at the lowest point on ATC....
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