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In the given diagram, BDE represents the average variable cost and BCDF represents the marginal cost curve. OA is the minimum possible average variable cost. The supply curve is represented by

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Microeconomics is a branch of economics that analyzes market behavior of individuals and firms in order to understand their decision-making processes.


In the given diagram, BDE represents the average variable cost and BCDF represents the marginal cost curve. OA is the minimum possible average variable cost. The supply curve is represented by






 
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