Consider the competitive market for sports jackets. The following graph shows the marginal cost (MC), average total cost (ATC),
1 answer:
The marginal cost is the additional cost incurred for a extra unit of production.
<h3>How to illustrate the information?</h3>The average total cost is simply the total cost divided by the number of units.
Based on the table attached, the number of jackets is used to depict whether the producer should shut down or produce.
The short run supply curve is also illustrated.
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