$20 $18 MC ATC $16 $14 $12 $10 $8 $6 $4 $2 $0 20 40 60 80 100 120 Output (Q) In the graph above, the ATC curve reaches its minimum where: Select one: a. MC is equal to AVC. b. MC is equal to ATC. c. MC is decreasing. d. MC is constant.

$20 $18 MC ATC $16 $14 $12 $10 $8 $6 $4 $2 $0 20 40 60 80 100 120 Output (Q) In the graph above, the ATC curve reaches its minimum where: Select one: a. MC is equal to AVC. b. MC is equal to ATC. c. MC is decreasing. d. MC is constant.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 28RQ: What shape of a long-run average cost curve illustrates economies of scale, constant returns to...

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Question

7
$20
$18
MC
АТС
i of
$16
$14
$12
$10
$8
$6
$4
$2
$0
40
60
80
100
120
Output (Q)
In the graph above, the ATC curve reaches its minimum where:
Select one:
а.
MC is equal to AVC.
b. MC is equal to ATC.
С.
MC is decreasing.
d. MC is constant.
20

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