Question

diagramatically explain the relationship btw 1 avc and mc 2 tc and mc
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Answer 1

Answer:

The relationship between AVC and MC curves is similar to that of AC and MC. ... AVC refers to TVC per unit of output and MC is the addition to TVC, when one more unit of output is produced. ii. Both AVC and MC curves are U-shaped due to the Law of Variable Proportions.