Average cost
A)increases and eventually begins to decrease.
B)is equal to marginal cost at its minimum.
C)is always greater than marginal cost.
D)is total cost/price of the product.

Question

Quizplus · Accepted Answer

Average cost is equal to marginal cost at its minimum point. This is a fundamental principle in economics, indicating the point at which producing one more unit of a good or service will start to increase the average cost of production.

Average Cost