Hello, I have finished reading chapter6: product costs and have some trouble understanding the short run cost curve along with the variable costs such as :the ATC, the AVC and also the marginal cost. I understand the formulas but I have trouble connecting them together. How do they relate? Why does a business need Average Total cost when i already have the total cost? Thank you
Hello, I have finished reading chapter6: product costs and have some trouble understanding the short run cost curve along with the variable costs such as :the ATC, the AVC and also the marginal cost. I understand the formulas but I have trouble connecting them together. How do they relate? Why does a business need Average Total cost when i already have the total cost? Thank you
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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Hello, I have finished reading chapter6: product costs and have some trouble understanding the short run cost curve along with the variable costs such as :the ATC, the
Thank you
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