Figure 13-5
-Refer to Figure 13-5. Which of the following statements is correct?
A)Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost.
B)Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost.
C)Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost.
D)Average total cost is declining for quantities less than C because average variable cost is less than average total cost.

Question

Figure 13-5 
-Refer to Figure 13-5. Which of the following statements is correct?
A)Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. 
B)Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. 
C)Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. 
D)Average total cost is declining for quantities less than C because average variable cost is less than average total cost.

Quizplus · Accepted Answer

The Answer of Figure 13-5 
-Refer to Figure 13-5. Which of the following statements is correct?
A)Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. 
B)Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. 
C)Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. 
D)Average total cost is declining for quantities less than C because average variable cost is less than average total cost.

Figure 13-5 -Refer to Figure 13-5. Which of the Following Statements Is