The Marginal Cost Curve Crosses the Average Total Cost Curve

question 365

Multiple Choice

The marginal cost curve crosses the average total cost curve at

• A)the efficient scale.
• B)the minimum point on the average total cost curve.
• C)a point where the marginal cost curve is rising.
• D)All of the above are correct.

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Definitions:

Binomial Random Variable

A type of random variable that arises from processes that consist of a fixed number of trials, each of which leads to a binary outcome (success or failure).

Variance

A measure of the dispersion or spread of a set of data points around their mean.

Standard Deviation

An indicator of the degree of spread or variability among a collection of numbers.

Variance

A measure of the dispersion of a set of data points around their mean; shows how much the data vary from the average.