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The following graph shows the marginal and average product curves for labor,the firm's only variable input.The monthly wage for labor is $2,800.Fixed cost is $160,000. What is AVC at its minimum?
British Columbia
A province in western Canada, known for its natural beauty, including mountains, forests, and the Pacific coastline.
Québec
A province in Canada known for its French heritage, distinct culture, and unique legal and social systems within the Canadian federation.
Extended Family
A family group that extends beyond the nuclear family, including relatives such as grandparents, aunts, uncles, and cousins.
Nuclear Unit
A family group consisting of parents and their children, regarded as a basic social unit.
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