What is the relationship between Marginal Cost and Average Variable Cost? a) When Marginal Cost is greater than Average Variable Cost, Average Variable Cost rises b) When Marginal Cost is lower than Average Variable Cost, Average Variable Cost falls c) When Marginal Cost is equal to Average Variable Cost, Average Variable Cost is at its minimum d) All of the above

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What is the relationship between Marginal Cost and Average Variable Cost?
a) When Marginal Cost is greater than Average Variable Cost, Average Variable Cost rises
b) When Marginal Cost is lower than Average Variable Cost, Average Variable Cost falls
c) When Marginal Cost is equal to Average Variable Cost, Average Variable Cost is at its minimum
d) All of the above
Transcribed Image Text:What is the relationship between Marginal Cost and Average Variable Cost? a) When Marginal Cost is greater than Average Variable Cost, Average Variable Cost rises b) When Marginal Cost is lower than Average Variable Cost, Average Variable Cost falls c) When Marginal Cost is equal to Average Variable Cost, Average Variable Cost is at its minimum d) All of the above
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