Why a firm has standard shaped costs where minimum of avc

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A firm has standard shaped costs where the minimum of AVC is $15 at a quantity of 9 and the minimum of ATC is $45 at a quantity of 15. The fixed cost is $345.
Draw a picture of the MC, ATC, and AVC for this firm specifically labeling the values for each of these costs at q = 15 and q = 9. Round any decimal answers to 2 places.

Reference no: EM13210169

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