Cost curves graph: MC, ATC, AVC and AFC

An example figure from the Cost and Revenue Curves generator.

Graph of Price and costs against Quantity with no numbers on the axes: a red MC curve that dips and then rises steeply, a U-shaped green ATC curve, a U-shaped purple AVC curve below it, and a dashed orange AFC curve falling all the way across. MC passes through the lowest points of AVC and ATC, each marked with a dot, and the gap between ATC and AVC narrows as quantity grows. — A firm’s cost curves: marginal cost (MC), average total cost (ATC), average variable cost (AVC) and average fixed cost (AFC, dashed). MC falls, then rises through the lowest point of AVC and then the lowest point of ATC, each marked with a dot. AFC falls as output grows, so ATC and AVC, which are AFC apart, draw closer together.

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