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Whenever price is exceed average variable costs but is less than average total costs, the firm can pay part, but not all, its fixed costs by producing.
Price is the money paid for a service rendered or goods and services bought.
The price of a goods is determined by the number of goods or the type of an item.
Therefore, Whenever price is exceed average variable costs but is less than average total costs, the firm can pay part, but not all, its fixed costs by producing.
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