Which of the following is true? Select one: a. The average variable cost curve intersects the...

Which of the following is true?

Select one:

a. The average variable cost curve intersects the marginal cost curve at the latter's minimum.

b. The marginal cost curve intersects the average total cost curve at the latter's minimum.

c. The marginal cost curve intersects the average fixed cost curve at the latter's minimum.

d. The average fixed cost curve graphs as a horizontal straight line.

e. The average fixed cost curve intersects the average variable and average total cost curves at their minimums.

Expert Solution

"B"

The marginal cost curve intersects the average total cost curve at the average total cost curve's lowest point that is the minimum of the ATC curve.

Rahul Sunny answered 2 years ago

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