Question: Using the table in exercise 1, explain what happens to ATC when MC > ATC, MC Data from in exercise 1 Use the following information

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.

Total Output Costs TFC TVC AFC AVC ATC MC 012345 $100 $150

Total Output Costs TFC TVC AFC AVC ATC MC 012345 $100 $150 $225 $230 $300 $400

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