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A firm is operating in a competitive market with a u-shaped average cost curve, a u-shaped average variable cost, and a u-shaped marginal cost curve. Assume that the firm faces sunk-fixed costs
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PDF) The Origins of the U-Shaped Average Cost Curve: Understanding the Complexities of the Modern Theory of the Firm
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What do the short run marginal cost, average variable cost and short run average cost curves look like?
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