Minimum marginal cost occurs at the output where _______.

the total product is maximum

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the marginal product of the variable factor is maximum

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the factors are combined in their best possible proportions

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the average product of the variable factors is maximum

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Solution

The correct option is D the marginal product of the variable factor is maximum
According to the production and cost function, MC is minimum at that point where the MP is maximum.

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Minimum marginal cost occurs at the output where _______.

The correct option is D the marginal product of the variable factor is maximumAccording to the production and cost function, MC is minimum at that point where the MP is maximum.

The correct option is D the marginal product of the variable factor is maximum
According to the production and cost function, MC is minimum at that point where the MP is maximum.