Assume Both the Marginal Cost and the Average Variable Cost

question 81

Multiple Choice

Assume both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the AVC curve, marginal cost must be:

• A) greater than the average variable cost.
• B) ​less than the average variable cost.
• C) ​equal to the average variable cost.
• D) ​at its minimum.

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Definitions:

Rationalization

A defense mechanism where controversial behaviors or feelings are justified and explained in a seemingly rational or logical manner.

Freudian Component

Elements of Sigmund Freud's psychoanalytic theory which include the id, ego, and superego, responsible for different aspects of human personality and behavior.

Ego

A component of Sigmund Freud's model of the psyche that mediates between the demands of the id, the superego, and the external world, playing a crucial role in decision making and reality testing.

Unconscious

Refers to the part of the mind that contains thoughts, memories, and desires not within the sphere of current awareness but that nonetheless influence behavior.