why is the TVC curve an inverted S in shape?
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TVC is the total variable cost curve. It slopes upward left to right, as inverse S-shaped. This slope of TVC curve shows that the total variable cost increases initially at a decreasing rate as the total output increases and subsequently it increases at an increasing rate with the increase in the output.
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The TVC curve is an inverted S upward sloping curve. The main reason for the shape of the TVC curve is the operation of the law of variable proportion. As the total output increases, the TVC initially increases at a decreasing when the production is experiencing increasing returns.
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