Which statement is correct? Answer Marginal cost is the change in average cost w

Question

Which statement is correct? Answer Marginal cost is the change in average cost when there is a change in output of 1 unit The marginal cost curve cuts the average variable cost curve at its lowest point The marginal cost curve cuts the average variable cost curve at an output greater than where the marginal cost curve cuts the average cost curve If average variable cost is increasing, then average total cost must be increasing too Which statement is correct? Marginal cost is the change in average cost when there is a change in output of 1 unit The marginal cost curve cuts the average variable cost curve at its lowest point The marginal cost curve cuts the average variable cost curve at an output greater than where the marginal cost curve cuts the average cost curve If average variable cost is increasing, then average total cost must be increasing too Marginal cost is the change in average cost when there is a change in output of 1 unit The marginal cost curve cuts the average variable cost curve at its lowest point The marginal cost curve cuts the average variable cost curve at an output greater than where the marginal cost curve cuts the average cost curve If average variable cost is increasing, then average total cost must be increasing too

Explanation / Answer

The marginal cost curve cuts the average variable cost curve at its lowest point

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