Use the Following Two Statements to Answer This Question: I

question 33

Multiple Choice

Use the following two statements to answer this question: I. The average cost curve and the average variable cost curve reach their minima at the same level of output.
II) The average cost curve and the marginal cost curve reach their minima at the same level of output.

• A) Both I and II are true.
• B) I is true, and II is false.
• C) I is false, and II is true.
• D) Both I and II are false.