Graphing Cost Curves: AFC, AVC, ATC and MC
llustrate the AFC, AVC, ATC, and MC curves on a diagram and show that marginal cost intersects average total cost at the minimum of average total cost. Use the excel file I uploaded as a reference for the graphs. Solution Preview
Average Fixed Cost (AFC) =Fixed costs of production (FC) divided by Total Output produced
Average Variable Cost (AVC)= Total …
The solution shows how the cost curves were plotted. The graph illustrates the behavior of the AFC, AVC, ATC and MC curves.
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