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Unformatted text preview: cost curves have been drawn accordingly. Total Output Units have been measured along the horizontal axis and Total Costs have been shown on the vertical axis. At a distance of 40 units we find T  FC as a line parallel to OX axis. This shows that even at zero output level TC is equivalent to FC. From here onwards TC rises continuously and in the same proportion as VC. Therefore VC and TC are parallel curves....
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This note was uploaded on 11/26/2011 for the course ECON MICRO ec 201 taught by Professor  during the Fall '10 term at Montgomery.
 Fall '10
 

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