Illustrate 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.© BrainMass Inc. brainmass.com October 10, 2019, 5:36 am ad1c9bdddf
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.