When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is above the average total cost curve. b. marginal cost curve intersects the average total cost curve. C. average fixed cost curve is above the marginal cost curve. d. average variable cost curve is above the average total cost curve. e. average variable cost curve intersects the average total cost curve.

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
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When the average total cost curve is at its minimum, we know that the:
a. marginal cost curve is above the average total cost curve.
b. marginal cost curve intersects the average total cost curve.
c. average fixed cost curve is above the marginal cost curve.
d. average variable cost curve is above the average total cost curve.
e. average variable cost curve intersects the average total cost curve.
Transcribed Image Text:When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is above the average total cost curve. b. marginal cost curve intersects the average total cost curve. c. average fixed cost curve is above the marginal cost curve. d. average variable cost curve is above the average total cost curve. e. average variable cost curve intersects the average total cost curve.
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