relationship between mc and avc
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Review: Average variable cost (AVC) is the cost of labor per unit of output produced. ... When the marginal unit costs more than the average, the average has to increase. By definition, then, the MC curve intersects the AVCcurve at the minimum point on theAVC curve. At the intersection, MC and AVC are equal.
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Dhaval1234:
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mc means
marginal cost
and avc means average variable cost
marginal cost
and avc means average variable cost
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