Multiple Choice
The significance of the minimum point on the average variable cost curve is that _____
A) it is the profit-maximizing level of output.
B) it is the selling price of a good.
C) it is the point of indifference between producing at a loss and shutting down.
D) if the firm produces one more unit, its average variable cost will be less than its marginal cost.
E) it shows the amount of total cost incurred by a firm in the production process.
Correct Answer:
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