Refer to Figure 7.1. At output level Q3
A) average fixed cost reaches its minimum.
B) average total cost reaches its minimum.
C) average variable cost reaches its minimum.
D) marginal cost reaches its minimum.
E) all of the above
C
Economics
You might also like to view...
The above figure shows the market for steel ingots. An externality can be seen because
A) the social marginal cost exceeds the private marginal cost. B) the private marginal cost exceeds the social marginal cost. C) the optimal quantity of steel is zero. D) not enough steel gets produced by the competitive market.
Economics
The market demand curve shows the relationship between the price and the quantity demanded by all consumers, everything else being equal
Indicate whether the statement is true or false
Economics