Costs 80 MC AVC ATC 120 160 180 200 Refer to the graph above to answer this question. What does point a represent?

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 4.10P
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Costs
A.
B.
80 120 160 180 200
Refer to the graph above to answer this question.
What does point a represent?
C.
D.
MC
Economic capacity.
Maximum marginal product.
Excess capacity.
AVC
Maximum average product.
ATC
Transcribed Image Text:Costs A. B. 80 120 160 180 200 Refer to the graph above to answer this question. What does point a represent? C. D. MC Economic capacity. Maximum marginal product. Excess capacity. AVC Maximum average product. ATC
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