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Question 157

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Use the following to answer questions:
Figure: Short-Run Costs II Use the following to answer questions: Figure: Short-Run Costs II -(Figure: Short-Run Costs II) Look at the figure Short-Run Costs II. Curve 1 crosses the average variable cost curve at: A) 3 units of output. B) approximately 5.3 units of output. C) the minimum value of curve 2. D) the level of output at which diminishing marginal returns begin.
-(Figure: Short-Run Costs II) Look at the figure Short-Run Costs II. Curve 1 crosses the average variable cost curve at:


A) 3 units of output.
B) approximately 5.3 units of output.
C) the minimum value of curve 2.
D) the level of output at which diminishing marginal returns begin.

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