Figure 5.1
-Refer to Figure 5.1, which shows a family of average cost curves. The average variable cost at a given level of output is represented by
A) the vertical distance between Curve 1 and Curve 3 at a given level of output.
B) the vertical distance between Curve 1 and Curve 2 at a given level of output.
C) the vertical sum of Curve 1 and Curve 3 at a given level of output.
D) the vertical sum of Curve 1 and Curve 2 at a given level of output.

Question

Figure 5.1
-Refer to Figure 5.1, which shows a family of average cost curves. The average variable cost at a given level of output is represented by
A) the vertical distance between Curve 1 and Curve 3 at a given level of output. 
B) the vertical distance between Curve 1 and Curve 2 at a given level of output. 
C) the vertical sum of Curve 1 and Curve 3 at a given level of output. 
D) the vertical sum of Curve 1 and Curve 2 at a given level of output.

Quizplus · Accepted Answer

The Answer of  Figure 5.1
-Refer to Figure 5.1, which shows a family of average cost curves. The average variable cost at a given level of output is represented by
A) the vertical distance between Curve 1 and Curve 3 at a given level of output. 
B) the vertical distance between Curve 1 and Curve 2 at a given level of output. 
C) the vertical sum of Curve 1 and Curve 3 at a given level of output. 
D) the vertical sum of Curve 1 and Curve 2 at a given level of output.

Figure 5.1 -Refer to Figure 5.1, Which Shows a Family of Average