Multiple Choice
The diagram below shows some short-run cost curves for a firm. 
FIGURE 7-2
-Refer to Figure 7-2.Which of the following choices correctly identifies the cost curves in part (i) of the figure?
A) Curve 1 is the total cost curve. Curve 2 is the total variable cost curve.
Curve 3 is the total fixed cost curve.
B) Curve 1 is the total fixed cost curve. Curve 2 is the total variable cost curve.
Curve 3 is the total cost curve.
C) Curve 1 is the total variable cost curve. Curve 2 is the total cost curve.
Curve 3 is the total fixed cost curve.
D) Curve 1 is the total marginal cost curve. Curve 2 is the total average cost curve.
Curve 3 is the total average fixed cost curve.
E) Curve 1 is the total cost curve. Curve 2 is the total variable cost curve.
Curve 3 is the average fixed cost curve.
Correct Answer:
Verified
Correct Answer:
Verified
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