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Draw TFC and TVC curves....

Draw TFC and TVC curves.

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Draw ATC and AVC curves on a single diagram.

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Answer the following question: (i) Why does AFC curve never touch the X-axis ? (ii) Why does TVC curve start from origin? (iii) Why AC, AVC and MC curves are U-shaped ? (iv) Why are the gap between TC curve and TVC curve remains constant with rise in output ? (v) Why does AC curve lie above the AVC curve ? (vi) Why does TC curve and TFC curve start from the same point above the origin?

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