Why the AVC curve is a dish shaped curve?
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The AVC curve is a U-shaped curve because of the application of the Law of Variable Returns to Factor. As the quantity produced of a commodity increases, the average variable costs diminish, reach a minimum and then start to rise.
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Answered by
6
Answer:
The AVC curve is a U-shaped curve because of the application of the Law of Variable Returns to Factor. As the quantity produced of a commodity increases, the average variable costs diminish, reach a minimum and then start to rise.
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