Multiple Choice
Exhibit 7.3
-Refer to Exhibit 7.3,which shows the U-shaped cost curves for a producer.A is the marginal cost curve (MC) ,B is the average variable cost curve (AVC) ,and C is the average total cost curve (ATC) .At an output of 10,the _____
A) total cost equals $10.
B) fixed cost equals $1.
C) variable cost equals $10.
D) marginal cost equals $10.
E) fixed cost equals $10.
Correct Answer:
Verified
Correct Answer:
Verified
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