Question: 1.Use graph (s), illustrate and explain the relationship between marginal cost and average total cost. 2. Ceteris Paribus, at which stage of the marginal and

1.Use graph (s), illustrate and explain the relationship between marginal cost and average total cost.

2. Ceteris Paribus, at which stage of the marginal and average total cost relationship, will a firm's profit decline. Use the profit equation to explain your reason.

An Explanation and answer would really be appreciated !!!

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