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    Graphing Cost Curves: AFC, AVC, ATC and MC

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    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
    https://brainmass.com/economics/output-and-costs/graphing-cost-curves-afc-avc-atc-mc-511045

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    Formula used:

    Average Fixed Cost (AFC) =Fixed costs of production (FC) divided by Total Output produced

    Average Variable Cost (AVC)= Total ...

    Solution Summary

    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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