With respect to the average cost curves, the marginal cost curve
A) intersects average total cost, average fixed cost, and average variable cost at their minimum points.
B) intersects average total cost, average fixed cost, and average variable cost at their maximum points.
C) intersects both average total cost and average variable cost at their minimum points.
D) intersects average total cost where it is increasing and average variable cost where it is decreasing.
E) intersects only average total cost at its minimum point.

Question

Quizplus · Accepted Answer

The marginal cost curve intersects both the average total cost and average variable cost curves at their minimum points, as this is where the cost per unit is minimized.

With Respect to the Average Cost Curves, the Marginal Cost