The Figure Given Below Shows Cost Curves of a Firm

question 95

Multiple Choice

The figure given below shows cost curves of a firm.Figure: 8.2
In the figure,
|: Marginal cost curve
||: Average total cost curve
|||: Average variable cost curve
-Refer to Figure 8.2. When Average Variable Cost (AVC) is at a minimum, which of the following is true?

• A)AVC equals AB
• B)Marginal cost (M
• C) equals 0G
• C)Average total cost exceeds AVC by SR
• D)MC equals HN
• E)MC equals GJ

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Definitions:

Conservation

In cognitive development, the understanding that certain properties of objects remain the same despite changes in the object's appearance.

Number

A mathematical object used to count, measure, and label.

Reversibility

The ability in cognitive development to understand that numbers or objects can be changed and returned to their original condition.

Animism

The belief in many cultures that objects, places, and creatures all possess a distinct spiritual essence or life force.