Using the table in exercise 1, explain what happens to ATC when MC > ATC, MC Data
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Using the table in exercise 1, explain what happens to ATC when MC > ATC, MC
Data from in exercise 1
Use the following information to determine the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs.
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Total Output Costs TFC TVC AFC AVC ATC MC 012345 $100 $150 $225 $230 $300 $400
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