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