The MC curve cuts the AC curve at
A) the maximum point
B) the initial point
C) the minimum point
D) any point
Correct Answer:
Verified
Q15: In long run, which factor of production
Q16: The U shape of the average total
Q17: The total fixed cost is a
A)horizontal straight
Q18: When AC minimum in short run
A)ac <
Q19: The shape of TVC and TC are
A)rectangular
Q20: The cost expressed not in terms of
Q22: The minimum point of ATC is at
Q23: If the long run cost curve shifts
Q24: The U shape of the LAC reflects
A)law
Q25: A production possibility curve is concave to
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