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Explain Variable costs.
Variable costs conversely, tend to vary directly along with the volume of output. Illustrations of variable cost are: -
* Direct production labour cost
* Direct Materials cost
* Direct Expenses.
1) characterize the long run equilibrium of a perfectly competitive industry in which average costs are U-shaped as output increases, under both restricted and free entry. b)Discus
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What is a current, struggling product?
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