The Figure Given Below Shows the Revenue and Cost Curves

question 43

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-The minimum point of the _____ curve is called the shutdown price.

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

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Definitions:

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A microscopic exocrine gland in the skin that secretes an oily or waxy matter called sebum, to lubricate and waterproof the skin and hair.

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