The Marginal Cost curve will a. cut ATC at the minimum of ATC but cut AVC at a point to the left of the minimum of AVC. d. cut AVC at the minimum of AVC but cut ATC at a point to the right of the minimum of ATC. b. cut ATC at the minimum of ATC but cut AVC at a point to the right of the minimum of AVC. e. cut both ATC and AVC at their respective minimums c. cut AVC at the minimum of AVC but cut ATC at a point to the left of the minimum of ATC. explain your answer above thoroughly--graphical, algebraically, numerically
The Marginal Cost curve will a. cut ATC at the minimum of ATC but cut AVC at a point to the left of the minimum of AVC. d. cut AVC at the minimum of AVC but cut ATC at a point to the right of the minimum of ATC. b. cut ATC at the minimum of ATC but cut AVC at a point to the right of the minimum of AVC. e. cut both ATC and AVC at their respective minimums c. cut AVC at the minimum of AVC but cut ATC at a point to the left of the minimum of ATC. explain your answer above thoroughly--graphical, algebraically, numerically
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 33CTQ: Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then...
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2. The Marginal Cost curve will
a. |
cut |
d. |
cut AVC at the minimum of AVC but cut ATC at a point to the right of the minimum of ATC. |
b. |
cut ATC at the minimum of ATC but cut AVC at a point to the right of the minimum of AVC. |
e. |
cut both ATC and AVC at their respective minimums |
c. |
cut AVC at the minimum of AVC but cut ATC at a point to the left of the minimum of ATC. |
|
explain your answer above thoroughly--graphical, algebraically, numerically.
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