a)Why is the ATC U-Shaped?
b)Why is marginal curve upward sloping in the short run ?
c)Where and why does the MC curve cross the ATC curve?
d)Given values for ATC and AVC,how would you determine Fixed
cost (what are the steps necessary to get from the first twoto the
last one )?
e)Given ATC,how would you determine total cost?
f)Graphically show and verbaly explain what the general pattern
of and relationship between fixed cost,variable cost and total cost
as...