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    The Macro Economy Today Study Set 1
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    Exam 7: The Costs of Production
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    Refer to Figure 21
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Refer to Figure 21

Question 40

Question 40

Multiple Choice

  Refer to Figure 21.3.The vertical difference between the total cost curve and the total fixed cost curve represents A)  Total variable costs. B)  Total marginal costs. C)  Average fixed costs. D)  Average variable costs. Refer to Figure 21.3.The vertical difference between the total cost curve and the total fixed cost curve represents


A) Total variable costs.
B) Total marginal costs.
C) Average fixed costs.
D) Average variable costs.

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