Explain the relationship between the MC curve and the AVC and ATC curves. The AV

Question

Explain the relationship between the MC curve and the AVC and ATC curves.

The AVC and ATC curves intersect the MC curve at the minimum of the MC curve. The marginal cost curve intersects the AVC curve to the right of the minimum of the AVC curve. It also intersects the ATC curve to the right of the minimum of the ATC curve. The marginal cost curve intersects the AVC curve at the minimum of the AVC curve. This is to the right of the intersection of the MC curve and the ATC curve, which is at the minimum of the MC curve. The marginal cost curve intersects the AVC curve at the minimum of the AVC curve. This is to the left of the intersection of the MC curve and the ATC curve, which is at the minimum of the ATC curve. A firm has fixed costs of $1 and variable costs of the following: Show FC, TC, MC. AFC, AVC, and ATC in a table. Instructions: Round your answers to the nearest whole number.

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Explain the relationship between the MC curve and the AVC and ATC curves. The AV

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