How do I figure out D through K.? C. What happening to A D. Where is AVC when AP

Question

How do I figure out D through K.?
C. What happening to A D. Where is AVC when AP is at its maximum? What happens to AVC after this point E. What happens to Mc after the point where it equals Avc? 1) How does it compare with AVC thereafter? 2) What is happening to MP thereafter? 3) How does MP compare with AP thereafter? F. What happens to TFC as output is increased? G. What happens to AFC as: 1) MP increases? 2) C decreases? 3) MP decreases? 4) MC increases? 5) AVC increases? H. How long does AFC decrease? J. What happens to ATC as? 1) MP increases 2) MC decreases 3) AP increases 4) AVC decreases K. Does ATC increase? is passed? 1) As soon as the point of diminishing marginal returns 2) As soon as the point of diminishing average returns is passed?

Explanation / Answer

QD. AVC and AP are closely related.

There relationship can be described as follows -

1. When AP is increasing, AVC is decreasing.

2. When AP reaches its maximum, AVC is at its minimum.

3. When AP is decreasing, AVC is increasing.

So, as the above mentioned relationship between AP and AVC states, when AP is at its maximum, AVC is at its minimum.

After reaching its minimum point, AVC will start rising or increasing.

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