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Commerce Economics Difficulty: Medium

Which two of the following statements are correct? I. In the short - run, ∆TFC = 0, therefore ∆TC = ∆TVC II. If decrease in AFC < increase in AVC, then AC decreases III. If decrease in AFC = increase in AVC, AC remains constant IV. If decrease in AFC > increase in AVC, then AC increases Choose the correct answer from the options given below

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