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The Significance of the Minimum Point on the Average Variable

Question 123

Multiple Choice

The significance of the minimum point on the average variable cost curve is that


A) it is the profit-maximizing level
B) it is the selling price
C) it is the point of indifference between producing at a loss or shutting down
D) if the firm produces one more unit, its AVC will be less than MC
E) it shows the amount of total cost

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