Refer to the Short-Run Production and Cost Data

question 56

Multiple Choice

Refer to the short-run production and cost data. The curves of Figures A and B suggest that

• A)marginal product and marginal cost reach their maximum points at the same output.
• B)marginal cost reaches a minimum where marginal product is at its maximum.
• C)marginal cost and marginal product reach their minimum points at the same output.
• D)AVC cuts MC at the latter's minimum point.