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Draw Average Variable Cost, Average Total Cost and Marginal Cost curves in a single diagram.

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Draw Average Variable Cost, Average Total Cost and Marginal Cost curves in a single diagram.

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Figure shows Average Total Cost (ATC), Average Variable Cost (AVC) and Marginal Cost (MC). All the three curves are U-Shaped. MC curve must cut both ATC and AVC from their lowest point (A and B in the diagram).

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