Statement I: in the Short Run,output Can Be Varied by Changing

question 222

Multiple Choice

Statement I: In the short run,output can be varied by changing the size of factories.
Statement II: The MC curve intersects the AVC and ATC curves at their minimum points most of the time.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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