Which one of the following statements is true to the relationship between marginal cost function and average cost function?
A. If MC is greater than ATC, ATC is falling.
B. ATC curve intersects MC curve at minimum MC.
C. MC curve intersects ATC curve at minimum ATC.
D. If MC is less than ATC, ATC is increasing.
Answer:C
Which one of the following statements is true to the relationship between marginal cost function and average cost function?
A. If MC is greater than ATC, ATC is falling. B. ATC curve intersects MC curve at minimum MC. C. MC curve intersects ATC curve at minimum ATC. D. If MC is less than ATC, ATC is increasing.