Refer to the following graph. This set of cost curves is:
A) correct.
B) wrong because the average total cost and marginal cost curves are switched.
C) wrong because the average total cost and average variable cost curves are reversed.
D) wrong because the AFC should always be downward-sloping.

Question

Refer to the following graph.  This set of cost curves is:
A) correct. 
B) wrong because the average total cost and marginal cost curves are switched. 
C) wrong because the average total cost and average variable cost curves are reversed. 
D) wrong because the AFC should always be downward-sloping.

Quizplus · Accepted Answer

The Answer of Refer to the following graph.  This set of cost curves is:
A) correct. 
B) wrong because the average total cost and marginal cost curves are switched. 
C) wrong because the average total cost and average variable cost curves are reversed. 
D) wrong because the AFC should always be downward-sloping.

Refer to the Following Graph