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-The above figure shows the costs at Barney's Bagel Bakery. As the amount of output increases, the AVC curve approaches the ATC curve because the
Resources Available
The total assets, both tangible and intangible, that are at disposal for use in the production of goods and services.
Production Possibility Frontier
A graph that shows all the maximum production possibilities of two or more products based on certain inputs.
Bowed Out
A phrase indicating withdrawal or retreat from a competition, situation, or commitment.
Increasing Opportunity Costs
The economic concept that as production of a good increases, the opportunity cost of producing an additional unit of that good also increases.
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