-Suppose average total cost is at its lowest level at output D. At what output would you expect average variable cost to be at its lowest level?

Name: -Suppose average total cost is at its lowest level at output D. At what output would you expect average variable cost to be at its lowest level?
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Question

Quizplus · Accepted Answer

Average variable cost reaches its lowest point before average total cost does, as fixed costs are spread over more units.

-Suppose Average Total Cost Is at Its Lowest Level at Output