Figure: A Firm's Cost Curves (Figure: A Firm's Cost Curves) Look at the figure A Firm's Cost Curves.The curve labeled V represents the firm's curve.
A)total cost
B)average total cost
C)marginal cost
D)average variable cost

Question

Figure: A Firm's Cost Curves   (Figure: A Firm's Cost Curves) Look at the figure A Firm's Cost Curves.The curve labeled V represents the firm's curve.
A)total cost 
B)average total cost 
C)marginal cost 
D)average variable cost

Quizplus · Accepted Answer

The curve labeled V is the firm's marginal cost curve, as it represents the change in total cost as output increases by one unit. The other curves in the figure are the firm's total cost (TC), average total cost (ATC), and average variable cost (AVC) curves.

Figure: a Firm's Cost Curves (Figure: a Firm's