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Unformatted text preview: Average variable costs (AVC) : a. The average variable cost curve is U - shaped. b. AVC first decreases, reaches a minimum, and the increases. c. WHY? Something you learned a little earlier known as the LAW OF DIMINISHING RETURNS and the LAW OF INCREASING COSTS....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10