The Marginal Cost Curve Intersects the Short-Run Average Total Cost

question 159

Multiple Choice

The marginal cost curve intersects the short-run average total cost curve where

• A) marginal cost is minimized in the short run.
• B) average variable costs are minimized in the short run.
• C) average total costs are minimized in the short run.
• D) average variable costs are maximized in the short run.

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Definitions:

Null Hypotheses

A statement or hypothesis set up to be nullified or refuted in order to support an alternative hypothesis , typically suggesting no effect or no difference.

Alternative Hypotheses

In hypothesis testing, the proposition that there exists an effect or difference when contrasted with the null hypothesis.

Genetic Mutation

A change in the DNA sequence that makes up a gene, which can lead to differences in protein production and can affect health and development.

Entomologist

A scientist who studies insects, including their biology, behavior, and impact on the environment.