Multiple Choice

-Refer to the graph above to answer this question.Which of the following statements is correct?
A) Curve 1 illustrates average product while curve 3 illustrates average variable cost.
B) Curve 1 illustrates average variable cost while curve 3 illustrates marginal product.
C) Curve 1 illustrates average product while curve 4 illustrates average variable cost.
D) Curve 2 illustrates marginal product while curve 3 illustrates average variable cost.
E) Curves 1 and 2 are cost curves while curves 3 and 4 are product curves.
Correct Answer:
Verified
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