(Figure: Average Total Cost and Quantity of Output III) Which

question 103

Multiple Choice

(Figure: Average Total Cost and Quantity of Output III) Which of the following statements is (are) TRUE? I. At Q = 3, the marginal cost is $2.33.
II. At Q = 8, the marginal cost is $1.80.
III. The slope of the total cost (TC) curve at Q = 3 is $2.33.

• A) II
• B) I and III
• C) II and III
• D) I

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