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Question

Which of the following is true of the relationship between the marginal cost function and the average cost function?


A

If MC is greater than ATC, then ATC is falling.

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B

The ATC curve intersects the MC curve at minimum MC.

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C

The MC curve intersects the ATC curve at minimum ATC.

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D

If MC is less than ATC, then ATC is increasing.

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Solution

The correct option is C

The MC curve intersects the ATC curve at minimum ATC.


The MC curve intersects the ATC curve at minimum ATC.


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