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A nit is
ATC Curve
Represents the average total cost of production at different levels of output, showing how cost per unit changes with scale.
Excess Capacity
The ability of a company to produce more goods or services than currently needed, exceeding the current demand.
Profit-Maximizing
The act or process of adjusting production and operational strategies to achieve the highest possible profit margins for a business.
ATC Curve
A graphical representation of a firm's average total costs over a range of output levels, typically U-shaped due to economies and diseconomies of scale.
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