Exhibit 7.3 -Refer to Exhibit 7.3,which Shows the U-Shaped Cost Curves for U-Shaped

question 196

Multiple Choice

Exhibit 7.3

-Refer to Exhibit 7.3,which shows the U-shaped cost curves for a producer.A is the marginal cost curve,B is the average variable cost curve,and C is the average total cost curve.The vertical distance between lines B and C at any level of output represents _____

• A)marginal cost.
• B)average total cost.
• C)average variable cost.
• D)average fixed cost.
• E)average marginal cost.

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