If the Marginal Cost Curve Intersects the Average Variable Cost

question 64

Multiple Choice

If the marginal cost curve intersects the average variable cost curve at 1,000 units per day,the rate of output at which average total cost is minimized is _____.

• A)1,000 units
• B)more than 1,000 units
• C)less than 500 units
• D)500 units

---

Definitions:

Holder In Due Course

A party who has acquired a negotiable instrument legally and is protected against certain defenses set forth by the original parties.

Bill Of Exchange

A written, unconditional order by one party to another, demanding the payment of a specified sum of money.

Bullion

Precious metal in the form of bars or ingots, primarily gold or silver, traded on commodity markets.

London Noon

Refers to the time in London when certain financial rates, like the gold fixing, are traditionally set, influencing various economic sectors globally.