When Average Total Cost Is at Its Minimum

question 23

Multiple Choice

When average total cost is at its minimum:

• A) average variable cost is declining with increases in output.
• B) average variable cost plus average fixed cost is declining with increases in output.
• C) average total cost is equal to average variable cost.
• D) marginal cost is equal to average variable cost.
• E) marginal cost is equal to average total cost.

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Definitions:

Graph Design

The process of planning the visual representation of data to communicate information clearly and effectively.

Label

A categorization or identification given to a data point or variable in research or data analysis.

Vertical Axis

The y-axis on a graph or chart, which is typically used to display the dependent variable in a data set.

Y-axis

The vertical axis in a graph or chart, typically used to represent the variable being measured or observed.