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Marginal cost and average total cost

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Reference no: EM131695295

1. What is technology? Give examples of technological changes.

2. Explain and illustrate the relationship between marginal cost and average total cost.

3. What are the Graph average total cost for variable cost, fixed cost, and marginal cost?

4. What is the long-run average cost curve and how is it use?

Reference no: EM131695295

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