The shape of the total-cost curve is unrelated to the shape of the production function.
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Q20: Economists and accountants both include forgone income
Q21: In the short run, if a firm
Q22: The cost of producing an additional unit
Q23: The shape of the total-cost curve is
Q24: A second or third worker may have
Q26: If the marginal-cost curve is rising, then
Q27: The average-total-cost curve reflects the shape of
Q28: Marginal costs are costs that do not
Q29: Variable costs usually change as the firm
Q30: For a typical firm, fixed costs increase
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