The marginal cost curve cuts the __________ curve at its lowest point. a. averag

Question

1. The marginal cost curve cuts the __________ curve at its lowest point. a. average variable cost b. average total cost c. average fixed cost d. a and b e. a, b, and c

The marginal cost curve cuts the __________ curve at its lowest point. a. average variable cost b. average total cost c. average fixed cost d. a and b e. a, b, and c The marginal cost curve cuts the __________ curve at its lowest point. average variable cost average total cost average fixed cost a and b a, b, and c a. average variable cost b. average total cost c. average fixed cost d. a and b e. a, b, and c

Explanation / Answer

option d) a and b => if MC if MC > ATC, then an increase in production by 1 unit will increase the ATC. So it follows that when MC = ATC, then the ATC is at its minimum Same reasoning for AVC

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