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Maximization of joint profits is most likely when firms are:
Average Variable Costs
The total variable costs of production divided by the quantity of output, representing the variable cost per unit of output.
Repairs
The process of restoring a damaged, broken, or failed device, equipment, or part to good working condition.
Hydraulic Car Smasher
A machine designed to compress and crush cars using hydraulic pressure for purposes such as recycling or disposal.
Marginal Cost
The extra cost incurred by producing one additional unit of a product or service.
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