Figure 71 Shows the U-Shaped Cost Curves for a Producer

question 30

Multiple Choice

Figure 7.1 shows the U-shaped cost curves for a producer. In the table figure, A is the marginal cost curve, B is the average variable cost curve, and C is the average total cost curve. At an output of 10, the:​ ​
Figure 7.1

• A)total cost equals $10.
• B)fixed cost equals $1.
• C)variable cost equals $10.
• D)marginal cost equals $10.
• E)fixed cost equals $10.

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