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Useful Trick: Finding the minimum of AC and AVC

This video explains why setting MC = AC is a valid method to find the minimum of average cost (and the same for average variable cost). This method is useful as a means of avoiding the use of calculus, but is also illustrates the power of economic logic. The example demonstrates how to use this tool in practice. For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page: http://blog.thisyoungeconomist.com/p/learn-microeconomics.html
Length: 07:46

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