Which of the Following Statements Is Correct

question 81

Multiple Choice

Which of the following statements is correct?

• A) When the marginal cost curve is above the average cost curve, the average cost curve must be rising.
• B) When the marginal cost curve is below the average cost curve, the average cost curve must be rising.
• C) When MR = MC, the average cost curve is at its minimum point.
• D) When MR = P, the average cost curve is at its minimum point.

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Definitions:

Business Markets

Markets where goods and services are sold for purposes other than personal consumption, typically involving transactions between companies.

Behavioral Segmentation

The process of dividing a market into groups based on consumer behaviors and patterns.

Consumer Markets

A sector where businesses sell products or services directly to individuals for private and household use, creating demand for various goods.

Behavioral Characteristics

Attributes that describe patterns of action and reaction of individuals or groups, often used in studying consumer behavior, employee performance, and social interactions.