-In the above figure, the intersection of curves A and B is the point at which
A) average total cost is minimised.
B) total product is maximised.
C) average variable cost is minimised.
D) average fixed cost is minimised.

Question

-In the above figure, the intersection of curves A and B is the point at which
A) average total cost is minimised. 
B) total product is maximised. 
C) average variable cost is minimised. 
D) average fixed cost is minimised.

Quizplus · Accepted Answer

The intersection of curves A and B typically represents the point where average total cost is minimized. This is because curve A often represents the average total cost (ATC) curve, and curve B could represent the marginal cost (MC) curve, which intersects the ATC at its lowest point.

-In the Above Figure, the Intersection of Curves a and B