Multiple Choice

-Refer to the graph above to answer this question.Which of the following statements is correct?
A) Marginal product and marginal cost reach their minimum levels at the same output.
B) Average product and average cost reach their maximum levels at the same output.
C) AVC cuts MC at the latter's minimum point.
D) AP is at a maximum when ATC is at a minimum.
E) AP is at a maximum when AVC is at a minimum.
Correct Answer:
Verified
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