ECON 101 SEU Short Run ATC and MC Discussion

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ECON 101 SEU Short Run ATC and MC Discussion

Economics, Saudi electronic university

ECON 101 SEU Short Run ATC and MC Discussion

Question Description

I’m working on a economics question and need an explanation and answer to help me learn.

1- Explain the relationship between short run ATC and MC and why ATC is U-shaped in short-run

2-Define the price elasticity of demand and explain its role to predict changes in quantity and total revenue

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