Marginal cost refers to the change in total cost for a one-unit change in output and also to the change in total variable cost for a one-unit change in output
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Q1: The total fixed cost curve is an
Q7: Total cost equals total variable cost plus
Q7: An economic profit of zero indicates a
Q8: As output increases, variable costs decrease
Q10: The long-run average total cost curve is
Q11: In the short run,all costs are variable.
Q14: In the long run,firms can vary all
Q20: An increase in the price of raw
Q22: Diseconomies of scale are most likely at
Q36: In the long-run the firm gets to
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