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Question

 A bakery has the following cost schedule

Q Variable Cost Total cost

0 0 30

1 10 40

2 25 55

3 45 75

4 70 100

5 100 130

6 135 165


a)     Calculate the average variable cost, average total cost, and marginal cost for each quantity.

b)     Graph all 3 curves. Describe the relationship of the curves.

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Qvc TC AVC ATC MC... View the full answer

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