Use the following to answer question:
-(Figure: A Firm's Cost Curves)Use Figure: A Firm's Cost Curves.The curve labeled V represents the firm's _____ cost curve.
A)total
B)average total
C)marginal
D)average variable

Question

Use the following to answer question: 
-(Figure: A Firm's Cost Curves)Use Figure: A Firm's Cost Curves.The curve labeled V represents the firm's _____ cost curve.
A)total 
B)average total 
C)marginal 
D)average variable

Quizplus · Accepted Answer

The curve labeled V represents the firm's marginal cost curve. This is because it intersects both the average variable cost and average total cost curves at their minimum points. The marginal cost curve shows the additional cost incurred by the firm in producing one extra unit of output.

Use the Following to Answer Question